Lastorders.com, the first on-line off licence in the UK, has
announced that it has secured a £2.5 million investment from The
Royal Bank of Scotland, Aberdeen Asset Managers, another prominent
Scottish venture capitalist and a group of private investors.
The Royal Bank of Scotland is providing over half of the funding
and will be represented on the board. It intends to take an active
role in the company's development, offering management expertise as
well as financial backing.
Lastorders.com became the UK's first on-line off-licence when it
launched in 1999, based in Edinburgh. It focuses on offering
quality branded beer, wine and spirits on-line at competitive
prices with next day delivery to the home or office anywhere within
the UK.
James Oliver, Co-Founder and Director of Lastorders.com said:
"We are delighted to have secured this investment from The Royal
Bank of Scotland and the other institutions. It is a great vote of
confidence in our company and its prospects, and we look forward to
developing the lastorders brand with the help of their
backing."
Bob Gunning of the Royal Bank said: "We're investing because we
think Lastorders have a good business model and an excellent
management team" Gillian Hastings, corporate finance partner with
Ernst & Young in Scotland and Northern Ireland, said: "We are
particularly pleased to have secured funding for this exciting
business venture. Lastorders operates in a market where it can
genuinely claim to have first mover advantage, a quality that is
becoming increasingly rare with online businesses."
