Bibby Financial Services has provided two funding facilities to businesses under the Venian Group.
Specialist recruitment company Venian Recruitment has secured a £400,000 funding facility and Venian Warehousing and Distribution has been provided with a £250,000 funding line.
Venian Recruitment has offices in Wakefield and Nottingham and specialises in recruiting roles in the construction and transport sectors. The funding provides Venian Recruitment with the capital they need to support their growth strategy which includes plans to double their turnover in the next 18 months.
Venian Warehousing and Distribution is a sortation and final mile distribution business providing delivery and sortation solutions for some of Europe’s largest organisations.
The £250,000 funding facility will enable them to take on more businesses across the UK and meet its turnover goal of £4m in the next 12 months.
Bibby Financial Services recently provided an £800,000 funding facility to D&A Recruitment – an independent recruitment company specialising in a range of sectors across the UK.
Based in the east of England, D&A Recruitment offers recruitment services and provides temporary and permanent placement.
Tony Clampin, corporate manager at Bibby Financial Services said: “D&A have a strong track record of achieving year-on-year growth. We were pleased to be able to structure a facility that frees up their cash flow so Dan and the team can focus on managing day-to-day business and achieving their future growth targets.”
Established in 2012 the business has grown its turnover by 20% year on year, an increased from £400,000 seven years ago to £4.5m today and holds contracts with companies like Hotel Chocolat.
The finance structured by BFS’s corporate team will boost D&A Recruitment’s capital operations, supporting growth and its ambition of achieving a £10m turnover.