The deal will enable the asset finance provider to support the growth of more SMEs, enabling them to employ staff and serve their customers.
Simply has now funded more than 2,000 customers and helped businesses across a range of sectors, including manufacturing, construction, transport and waste.
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Mike Randall, CEO at Simply (pictured above), said: “In the two years since Simply was founded, we’re proud to have achieved a huge amount — the most important part of which is supporting thousands of bright and ambitious businesses.
“We want to empower small- and medium-sized organisations to realise their potential and this warehouse facility from Citi is crucial in terms of providing us with the means to do so into the future.
“We look forward to working with one of the largest global financial institutions over the coming years.”