Leeds-based brewer and bar chain secures £375,000 funding as business grows internationally

Leading UK independent invoice financier, Bibby Financial Services (BFS), has struck a deal with North Brewing Company Ltd for a £375,0000 Confidential Invoicing Discounting (CID) package, to support the business’s cashflow and enable the founders to focus on future growth.

The Leeds-based business started its life as North Bar on New Briggate high street, which was founded in 1997 by John Gyngell and Christian Townsley

After opening several more bars, the pair ’s passion for great beer led them to found North Brewing Co in 2015, brewing their own range of local craft beers which continues to expand

North now operates 10 bars across Yorkshire, Birmingham and Manchester and produces around 20 thousand hectolitres of beer every year which is sold into supermarkets, restaurants, and bars all over the world

As the business continues to grow and supply an ever-increasing number of domestic and international customers, the new funding line from BFS will allow North’s co-founders to manage cashflow, so they can focus on planning ahead and growing the business.

To facilitate the transaction, the business was introduced to BFS’s commercial team by Conor Smyth at TFS Finance Ltd, an independent commercial finance brokerage focused on the SME market BFS’s Yorkshire-based deal-team – led by Ian Hayes – structured a Confidential Invoice Discounting funding facility worth £375,000 BFS was chosen due to its speed, agility and understanding of the business’s needs

John Gyngell, Director and Co-founder of North Brewing Co, commented: “We’re so proud of where our business is today, in large part thanks to our great staff and a lot of love from our customers and community But, as a business owner, cashflow is a daily concern, especially over the past 12 months In order to grow the business, we need to be able to focus on the future, rather than just respond to the day to day We really appreciated BFS’s commitment to understanding our business, and quickly coming back to us with a solution BFS’s funding and support gives us the breathing space to concentrate on what we’re best at, plan ahead for business growth over the next few years and have more time to enjoy the day job ”