Perkbox Funding Facility Announcement

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Perkbox are pleased to announce that they have signed with Barclays to provide a 3 year committed funding facility of £4 million. This funding facility is to help the business scale in the short to medium term.

The funding facility from Barclays will enable Perkbox to sustain this growth trajectory.

Perkbox are pleased to announce that they have signed with Barclays to provide a 3 year committed funding facility of £4 million. This funding facility is to help the business scale in the short to medium term.

Perkbox has grown rapidly in the last 3 years. Turnover jumped from £4.3 million in 2015 to £14.7 million in 2016. In early 2017 Perkbox opened an office in Sheffield to meet increased demand. Perkbox now has over 180 employees between its London and Sheffield offices.

The funding facility from Barclays will enable Perkbox to sustain this growth trajectory.

Says Robert Gorle, Perkbox Finance Director

“We continue to see strong growth in our recurring subscription revenues which put us in a good position to negotiate between different funding options. At this stage in the company’s development we believe that it is appropriate to use debt financing to fund the growth in the period to our next equity raise. We are delighted that Barclays has shown its support for Perkbox’s vision.”

Says Darren Mott, Relationship Director, Corporate Banking at Barclays.

“Perkbox is a loyalty platform provider allowing businesses to engage with their two most relevant audiences - customers and employees. Over the last few years, it has seen strong scalability through a successful business model, delivering to a very fast growing client base. The funding we are providing will support the business as it continues to grow and to look at further opportunities in the future.”

Perkbox was created by Saurav Chopra and Chieu Cao in 2014. Today it ranks among the leading providers of employee benefits programmes for thousands of companies of all sizes such as Nando’s, Holland & Barrett, Royal Berkshire NHS Trust, Levi Strauss, Wasabi, Noble Foods, Firmdale Hotels, Hawksmoor and Revolut. To date, Perkbox has raised over £11.0 million in funding from investors such as Alex Chesterman, founder of LoveFilm & Zoopla, Sherry Coutu, former advisory board member at Linkedin, as well as the leading European venture capital firm Draper Esprit.     

Perkbox was recently listed at number 2 on the “LinkedIn Top Companies | Startups UK: The 25 industry disruptors you need to know now” list.
See: https://www.linkedin.com/pulse/linkedin-top-companies-startups-uk-25-industry-you-need-emily-spaven

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Emily McMahon
Perkbox
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