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An Aylesbury-headquartered online retailer of decorative garden and indoor screens, fences and gates has outlined its international expansion plans following a refinancing with Santander UK.
Screen With Envy was founded in 2017 by Sophie Birkert, who began designing decorative garden screens when she identified a gap in the market.
It now has a multimillion-pound annual revenue, which has grown by more than 800 per cent over the past two years, and employs a staff of 73.
The business sells its products exclusively through its website and, in addition to growing in the UK, it is working to increase sales internationally with a focus on the US and Europe.
Santander UK has provided Screen With Envy a £3.75m funding package, including a Growth Capital loan. The funding product gives the business the flexibility to reinvest its profits in working capital and growth.
The funding package enables the Aylesbury-headquartered business to refinance existing debt, frees up its cashflow and supports it with importing materials from overseas used in the production of its products.
Birkert said: “With Santander UK, we have found the support and growth aspiration we would look for from an equity partner but without the dilution – it’s the kind of partner all growing businesses need.
“We look forward to growing our business, with the support of Santander UK, into the UK’s biggest and most successful retailer of own-design screening, fencing and partitioning.”
David Muse, growth capital director at Santander UK, added: “We are delighted to become Screen With Envy’s banking partner, supporting the next phase of its growth strategy.
“Our flexible funding package, combining Growth Capital and trade finance facilities, as well as our international support solutions, will help this fast-growing British company to expand worldwide through investment in stock, new hires, and overseas trade infrastructure.”
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