The Background Story
Our client, who offers affordable car finance, originally approached B&Y in 2015 to provide the first round of external funding. We have long established relationships with our network of investors, and from a shortlist of seven who expressed serious interest, one shone through and took the lead. After a series of meetings, our investor not only fully funded the requested £5million but also bought a sizable minority stake in the business and joined the board.
Additional £5million Investment
In the last two years alone, our client’s business has grown 400%. To support the continued growth, we secured an additional £5million from the original investor, meaning our investor has now entirely funded the loan book with a total of £10million in capital raised.
The Next Stage
With accelerating annual growth, the next round of funding is likely to be in the range of £25 – £50million. We have already introduced several sources of capital who operate in this range and will continue to work on these later in the year. We are really pleased to see our investor and client working well together and achieving the objectives they have set themselves. The next phase of growth promises to be really interesting.
