Oxbridge Associates, an international procurement consultancy specialising in the FMCG and healthcare sectors, has secured a significant investment from the alternative finance provider Growth Lending.
The Winchester-based business obtained an initial working capital facility from the lender in February this year, but has now secured further investment for its Dutch subsidiary, Oxbridge Associates B.V. The funding will be used to support the firm’s international expansion, enabling it to establish a presence in more European countries.
Oxbridge Associates trades in the FMCG sector as a wholesaler, sourcing and selling branded items such as toiletries, cosmetics and dental hygiene products. Operating in both the UK and the Netherlands, the business works with organisations around the world to reduce costs, improve internal processes and develop their own procurement teams.
The company also offers end-to-end supply chain management and consultancy, establishing partnerships between market-leading manufacturers and authorised distributors to increase reliability and efficiency within supply chains. As well as supporting Oxbridge’s growth, the investment will enable the company to pay suppliers up front, strengthening these relationships as the firm continues to grow its network of reliable supply chain partners.
Oxbridge Associates has chosen Growth Lending based on the firm’s expertise in export funding. Growth Lending was able to offer an individually tailored funding solution that supports the needs of both Oxbridge and Oxbridge B.V., enabling the group to expand confidently and maintain the renowned efficiency within its supply chain.
Growth Lending provides funding for growth, working capital and M&A. Founded in 2013 to support UK SMEs where traditional banks can not, the firm works with innovative and fast-growth B2B businesses, including those in technology, media and healthcare. Growth Lending had a record 2021, providing £64m under the government CBILS initiative, supporting businesses through the pandemic and aims to double in size by the end of 2022.
Tom Stewart, Regional Director at Growth Lending, says: “Oxbridge is a fast-growing business with a strong management team, which has huge ambitions. Since the launch of Oxbridge B.V., sales have grown substantially across the European market and this facility will enable the group to capitalise on its international reach, while smoothing cash flow throughout the supply chain.
“The business has a strong foothold in the FMCG sector and its ability to respond quickly to ongoing customer and market demands is truly impressive – it is great that Growth Lending has been able to support the group, while also showcasing the flexible and tailored nature of our facilities.”
Ben Funnell, Managing Director at Oxbridge Associates, says: “It has been a pleasure to work with Growth Lending on both of these deals, as Tom and the team have been able to provide us with a tailored solution that meets the differing needs of our businesses, in the UK and overseas. The facilities will give us the necessary working capital to grow our business further, enhancing our buying and selling capacity and supporting our expansion plans.”