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."