Premium liquid supplements specialist YourZooki has secured a GBP1.6 million funding facility with Metro Bank as it looks to accelerate its expansion into North American markets.
The new funding comes as revenues trebled in the previous twelve months, with online demand rising 750 per cent during the pandemic.
The funding will enable YourZooki to scale up its international distribution network, after signing a recent contract for US and Canadian market entry with GNC (General Nutrition Centre), the world’s biggest specialist supplement retailer. It furthers YourZooki’s share of the rapidly growing global dietary supplement market, estimated to reach USD53bn by 2023.
Metro Bank’s backing is the third round of investment secured in just under 12 months by YourZooki. In August, it received a GBP950,000 funding package from Investec, and underwent two funding rounds totalling GBP300,000 with the Lancashire County Council Rosebud Fund, managed by GC Business Finance.
Read more/Source: Private Equity Wire
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