UK challenger bank Aldermore has agreed to provide a £1m (€1.19m) invoice finance facility for Central Courier Solutions

The Solihull-based transport logistics facility has 40 employees, and chiefly serves the West Midlands and Northampton areas, while also working across the UK.

Central Courier Solutions will use the invoice finance facility to fund future growth, boosting the number of vehicles it operates from 11 to 74.

The funding will also allow Central Courier Solutions to continue operating and taking on new business as they await the fulfilment of the long payment terms common in this sector.

David Blackwell, founder and chief executive officer at Central Courier Solutions, said: “This funding will unlock the company’s growth potential and I’m looking forward to developing the business,”

“[We] chose Aldermore because we trusted them to deliver on providing the funding we need. They demonstrated a keen understanding of our business model and their offer really stood out to us.”

Tom O’Dell, business development manager for invoice finance at Aldermore, said: “We’re pleased to have been able to provide funding to Central Courier Solutions at such a key time in their development, and we look forward to seeing the company continue to grow in the future.”