ThinCats delivers £3m funding line to Abokado

ThinCats has provided a £3m funding line to healthy food chain Abokado.

The London-based brand will use the funding to support its growth and expand its store footprint, as well as invest further in its senior management and branding.

Abokado has reported that its EBITDA has increased by almost 50% year-on-year.

Mark Lilley, founder and CEO at Abokado (pictured above, right), said: “We are excited to have embarked on a new partnership with ThinCats.

“The timing from pressing the button to delivery was very fast and ThinCats delivered commercially exactly what was agreed.

“The ability to have an open and informal dialogue with credit and the senior decision makers early on was excellent, something that we would never have been able to do with the traditional providers and their ivory-tower approach.”

Dave Sherrington, business originator for London and the South at ThinCats, added: “We are thrilled to support Mark and Lindsay Lilley [co-founder] (left) and their passionate and hard-working team in their plans to continue growing the business by doing what they have always done incredibly well – continually focusing on quality, service and value.

“We love funding growing and ambitious businesses that have identified gaps in the market and we are delighted to be able to play our part in such an exciting retail success story.

“The hands-on approach of our combined origination and credit team at ThinCats has not only enabled this particular transaction, but has provided a platform for a strong partnership going forward.”

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