An East Midlands e-commerce firm has received a seven-figure funding boost to support its ongoing expansion plans.
James and James Fulfilment has secured the revolving credit facility from HSBC Ƶ.
The additional facility comes following the announcement of the company’s move to a new fulfilment centre in Northampton to support growing demand from customers.
The new site, which is around 200,000 sq ft, will not only help to support an influx of new clients, but will also generate up to 200 new jobs within the local community over the next three years.
Since the start of lockdown, the company has seen an increase in customer demand across its markets, including hair and beauty, fashion and pet supplies.
It has continued to operate throughout the pandemic, not only supporting its Ƶ customer base, but also its operations across sites in Ohio, in the US, and in New Zealand.
Simon Lisser, chief financial officer at James and James Fulfilment, said: “We have seen significant growth of the business over the past year and particularly over the past few months since the start of the lockdown, where we saw an increase of over 50%, as customers shifted to online purchasing.
“The facility from HSBC Ƶ will further support our exciting expansion plans as we prepare for the future.”
David Ramsden, HSBC Ƶ South Midlands area director, said: “Providing the right support for our customers is crucial and we were pleased to be able to help the team at James and James with their expansion plans.
“The new site will place the company in the best possible position to meet changing customer requirements and support increased stock volumes through the fulfilment centre.”
