El Rayo Tequila raises £1.33m
London-based Tequila brand El Rayo has gained £1.33 million (US$1.69m) of investment, exceeding its £1.3m (US$1.65m) target.
It plans to use the funding to become the UK’s ‘second biggest super-premium Tequila brand’ in 2024, and to recruit senior hires for sales and marketing.
The funding round was led by Rianta Capital, the family office of New Look founder Tom Singh, which also led the Tequila brand’s previous funding round in 2023.
Other investors included Anotherway Ventures and Logan Plant, the founder of Beavertown Brewery.
El Rayo said it will soon launch into further supermarket chains, following its listing at Sainsbury’s last year.
In the on-trade, the brand is distributed to more than 1,000 UK venues. It plans to expand distribution internationally in 2024, with three European export markets planned for the second half of the year.
Co-founder Jack Vereker said: “When we launched El Rayo, our mission was to turn Tequila into the first drink of the night, not the last – a premium spirit designed to be relished in a long, slow serve.
“Surpassing our latest funding target means El Rayo can continue to redefine this rapidly expanding category and grow the brand not only in the UK but internationally too.”
Related news
Jose Cuervo sees sales and volume contrast in Q1
