Growth Through Collaboration: Henry Murray of waterdrop® and RBI’s Daniel Rath About their New Partnership

As waterdrop® continues to redefine hydration through innovation and sustainability, the company has recently entered a strategic partnership with RBI, securing a fully committed venture debt loan that strengthens its capital structure and supports future growth. This collaboration not only reflects RBI’s commitment to empowering scale-ups in the DACH and CEE regions but also marks a significant milestone in waterdrop’s journey as a global leader in innovative and more sustainable beverage solutions.

To explore the impact of this partnership from both sides, we spoke with Henry Murray, Co-Founder and CMCO of waterdrop®, and Daniel Rath, Head of Corporate Customers at RBI. Together, they share insights into the strategic importance of this collaboration, the vision for future growth, and the evolving landscape of the beverage industry.

Henry Murray: This partnership gives us the stability to keep growing internationally while staying true to what matters most – inspiring people to drink more water every day while reducing single-use plastic bottles. It allows us to expand our reach without losing sight of quality and the community that drives us forward. For us, it’s about building the right foundation to keep shaping the future of hydration.

Daniel Rath: waterdrop® combines a number of qualities that make the company the ideal business partner for RBI: They have a very strong management team, and a great group of Austrian and international investors. They are founded and headquartered in Austria but have a truly international footprint. They are sizeable in terms of revenues and have a very strong brand. Their business case is based on the mega trend of healthy nutrition – I could go on, but my message is clear: waterdrop® is one of the most attractive and interesting scale-ups in Austria, and we are very proud to be part of their growth story.    

Daniel Rath: At RBI, we combine top-notch lending expertise with a unique approach to supporting fast-growing scale-ups that are not (yet) candidates for conventional corporate finance. We have earmarked EUR 250 million for venture loans and are seeing a lot of interest from venture capital funds and scale-ups alike. Although we have recently increased our scale-up portfolio significantly, we are still very interested in high-quality scale-up businesses with strong management teams. For us, innovation is the basis for a prosperous future, and we are ready to support the innovation economy by focusing on what we are truly good at: providing tailored financing solutions. 

Henry Murray: Our long-term vision has always been to change the way people hydrate by moving away from pre-filled, sugary beverages and offering healthier, more sustainable alternatives. Therefore, we are constantly exploring new ways to connect with our growing global community, whether through functional innovations, thoughtful design, or meaningful partnerships, e.g. around tennis. Today, waterdrop® is present in more than 30 markets, and in the coming years our goal is clear: to become a global player, making our solution available to consumers all around the world. Our partnership with the RBI is another step towards achieving this goal. 

Henry Murray: When we started waterdrop®, we looked at an industry that hadn’t changed in decades. Shipping pre-filled, sugary drinks around the world was neither sustainable nor healthy, and it was clear to us that things had to change. That’s why we set out to revolutionize the beverage industry by creating an entirely new category and shaping the future of hydration.In the early days, building a company from scratch meant being hands-on across everything – from marketing and product to supply chain and sales – in order to understand the business and our customers from every angle. Today, my role as CMCO is more strategic. I focus on driving our global marketing, leading partnerships like with the Australian Open, the ATP, our athletes and ambassadors, and creating campaigns that strengthen the brand worldwide. A big part of my work is also ensuring waterdrop® becomes a strong player in key markets such as the US, and that our products are available wherever consumers need them.

Henry Murray: Consumers are asking for transparency, functionality, and purpose, and the industry has to respond. At waterdrop®, we want to set a new benchmark for what a beverage company can be – one that eliminates unnecessary plastic bottles, delivers real benefits, and builds a community around more sustainable hydration. Our role is to inspire change and show that a better way forward is possible.