LUXEMBOURG, 10 March 2021 – VERSO Capital, the Luxembourg-based boutique merchant banking and financial services firm, has announced the successful closing of a series seed in Nitro Beverage Inc. The extra capital will allow the New Jersey-based producer of fair trade, nitrogen-infused organic cold brew coffees, to expand its product lines and increase retail capabilities across the United States.
VERSO Capital has a history of investing in visionary and disruptive companies. Over the past four years, it has invested over $245 million in tech start-ups ranging from climatech to foodtech and biotech. It led the seed investment rounds resulting in a new capital injection into Nitro Beverage Inc., the innovate beverage platform and creators of NITRO cold brew coffee.
Founded in 1958, VERSO Capital is a boutique merchant banking and global financial services firm based in Luxembourg and operating out of Geneva, Fribourg, Vaduz and Dubai. Led by Julien Machot, it works with clients worldwide and is known for being highly selective in its investments, investing in just three to five companies a year. VERSO Capital isn’t just about the returns; it gets involved with impactful projects that positively affect society and the environment. Consequently, the firm was proud to provide support for NITRO, who only source the highest-quality organic and fair-trade ingredients.
The equity financing provided NITRO, based in New Jersey, with the means to continue its expansion. The beverage company was founded by two brothers and two of their friends. It began as a hand-built coffee cart in Asbury Park in 2016, providing drinks that are free from sugar, calories and preservatives. In 2018, they started selling their coffee products in cans as well as kegs. Their operations have since grown dramatically, and they now deliver kegs of organic nitro-infused coffee to leading offices and products to over a thousand retail outlets across the USA.
VERSO has worked with NITRO since early 2019 and helped guide the beverage company through the COVID-19 pandemic and the Manhattan lockdown. The series seed began on the mid 2020 and has now been successfully closed. It will allow Nitro to increase production and launch a new three-SKU line of oat milk lattes in the second quarter of 2021. The company’s growth will soon take it to another level, guided and helped by VERSO Capital. Julien Machot, the founder of VERSO, said: “We believe the company will be very appealing to larger groups in the future, such as Pepsico, who are coming into the RTD coffee segment.”
For more information on VERSO Capital: https://www.versocapital.co
For more information on NITRO: https://drinknitro.com
SOURCE VERSO Capital
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