Whiskey trading startup raises €1.2m

Ernest Cantillon and James Jardella are the founders of whiskey trading platform LYQD.

Ernest Cantillon and James Jardella's whiskey trading platform startup has raised €1.2m in seed funding to secure its launch later this year.

Backed by Enterprise Ireland’s High-Potential Start-Up (HPSU) programme, LYQD will operate as a secure and transparent platform for trading Irish whiskey casks and bulk whiskey. 

The funding is from mixed sources, mostly Irish, including private investors, Enterprise Ireland and a prominent family investment office. 

The backers said the timing of the raise is significant. 

With the potential reintroduction of US tariffs on European alcohol under a second Trump administration, Irish distilleries face renewed uncertainty around exports. 

In response, many are exploring new ways to reach consumers and maintain production levels despite softening demand in traditional markets like the US.

Attractive opportunities for investors

For investors, this could present attractive opportunities to enter the whiskey market at favourable valuations.

At the same time, a recent BBC Disclosure programme into the mis-selling of Scotch whisky casks has put a spotlight on the need for greater transparency in alternative asset trading. 

“This funding milestone enables us to bring a much-needed solution to the market,” CEO Jardella said. 

“Irish whiskey has seen strong growth over the past decade, but the traditional cask and bulk whiskey market remains fragmented and complex.”

LYQD will make transactions smoother, safer, and more accessible for all stakeholders.

While similar issues have not been reported in the Irish market, LYQD’s platform aims to allow only authenticated casks to be listed to ensure safer and more reliable transactions.

Cantillon has experience in the sector as one of the founders of the Kinsale Spirit Co. 

In recent days, LYQD has brought on Tim Murphy, former MD of BNY and CFO of Waystone, as an investor and advisor.

LYQD said they are opening for pre-orders from distilleries, investors, and collectors.