Industry: Food and drink
Product: IDeal™ invoice discounting
Facility size: £1m
This well-established food provider of plant-based dips has placed itself well as a high quality, ethical product. As a certified B-Corporation brand they prioritise homemade quality in shop bought convenience items, with a focus on sourcing whole ingredients responsibly and sustainably.
To date the business has grown with experienced investors but now requires additional flexible finance for the next stage of development, becoming a recognised wellness brand. As first-time users of an invoice finance it was important to ensure their facility is tailored specifically, offered dedicated support and can grow with them, as needed.
Close Brothers Invoice Finance were pleased to offer a £1 million facility in a sector we have experience, with knowledge of the industry challenges. Using IDeal will decrease the workload required when it comes to reconciliation and will integrate seamlessly with their existing accounts package. With this additional headroom the Directors can pursue the next stage of business growth, with greater cashflow to expand the brand reach within the UK.