Curio Spirits has received a funding boost through the Cornwall and Isles of Scilly Investment Fund (CIOSIF).
The Porthleven-based business has received a £102,413 loan made up of £89,376 from CIOSIF and £12,767 from SWIG Finance, who work with The FSE Group, the appointed CIOSIF Fund Manager, on delivering smaller business loans.
The funding will be used to develop its premises which will enable it to offer gin tasting, tours and allow customers to distil their own gin, creating three new jobs.
The independent artisan distillery was established by husband and wife team William and Rubina Tyler-Street back in 2014. William, who is a qualified master distiller, saw an opportunity to create a Cornish gin that mixed Asian flavours with top quality Cornish ingredients. To add to their product portfolio, they now produce vodka and rum, and have recently launched a popular new Hard Seltzer range of canned drinks.
William Tyler-Street said: “Rubina and I are really excited to be scaling-up the business and sharing our passion through the carefully crafted range of spirits which we have created. We are looking forward to the next stage of Curio Spirits journey which includes new products and an interactive visitor experience at Porthleven with tours, masterclasses and taster events. We’re extremely excited for the future and cannot wait to get stuck in.”
The deal was led by The FSE Group, with support from SWIG Finance. Rachel Thomson, CIOSIF business manager at SWIG Finance, added: “We are delighted to provide this funding, which will enable William and Rubina to move into larger premises allowing them to increase production levels meeting demand.”
The £40 million Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25k to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).
Lloyd Brina, senior manager at the British Business Bank, said: “Curio Spirits have successfully carved out a niche in a highly competitive market and their multiple awards are testament to the quality of their products. We’re delighted to be backing their continued growth as they move the business to the next level.”
