Coterie Holdings has formally announced the launch of Jera, a wine lending platform, under the management of Michael Saunders, Coterie’s new CEO.
Coterie first appeared on the drinks scene after its acquisition of Lay & Wheeler in 2019, before acquiring Hallgarten & Novum last year. Owners are now officially launching Coterie’s third business, Jera, in a move to consolidate the company’s position in the fine wine market.
Jera, which was initially founded by Chris Robinson and Greg Malone, is an online platform which will allow wine collectors and restaurants to borrow using their wine as collateral. It provides users with instant quotes based on a loan-to-value rate, with the value of each wine being calculated using Lix-ex data. Throughout the period of the loan, wines are transferred and stored in Coterie’s storage facilities, Coterie Vaults.
Coterie’s Saunders said Jera acts as a “simple solution for collectors seeking to temporarily unlock some value should there ever be the need.
“Historically, borrowing against the value of wine collections has been complicated with low loan-to-cellar value rates.
“Borrowing against other collectable assets like fine art has always been more straightforward than it has been for wine. We recognised this gap in the market and have launched Jera for wine collectors looking to unlock value from their wine cellars.”
Saunders told Drinks Retailing more about Jera and the Coterie business in a recent interview.