LANCASHIRE based health liquids company YourZooki has secured £1.6 million in funding for its planned expansion into America.

The funding has come from Metro Bank and comes after online demand has risen by 70% during the pandemic.

The Preston-based company says that the funding will allow it to scale up its international network in the US and Canada as well as increasing its production capacity at home in Lancashire.

YourZooki co-founder Marcus Mollinga said: “2020 was obviously a demanding year for many businesses, but we were fortunate to be able to scale up quickly and enjoy incredible growth as a result of market conditions brought on by the pandemic.

"There have been noticeable shifts in consumer behaviour towards prioritising health and wellbeing, and with it an increase in demand for more effective and enhanced supplements than the traditional pills and powders.

“Our sales have risen considerably as a result, and Metro Bank’s funding will enable us to meet this increased demand, grow our operations and concentrate on our US and Canadian expansion. The bank’s backing has been crucial to ensuring we’re primed for this next phase of growth, with new product launches and listings in the pipeline and an exciting year on the horizon.”

YourZooki has already established itself as a presence in the UK, with products including liquid supplements and vitamins for sale in branches of Boots, Holland and Barrett, Harrods, Selfridges, Planet Organic and Wholefoods.

Mr Mollinga and co-founder Jack Morrison will now hope to establish a similar presence in the US.

The funding meanwhile is comprised of an £800,000 Coronavirus Business Interruption Loan (CBIL) and an £800,000 invoice financing facility.

Metro Bank commercial banking manager Jack Buck said: “Even during the challenging conditions brought on by coronavirus, with the right support, there are businesses out there that have the potential to thrive. YourZooki’s focus on ecommerce and its subscription model saw demand reach new highs last year, and has provided a solid foundation for impressive growth.

"Metro Bank’s funding facility will support this further as they push into North America. Marcus and Jack have built a compelling business in YourZooki, and I look forward to seeing how it grows under their guidance.”

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