Raw pet food manufacturer Naturaw has secured a six-figure finance package to support further expansion.
The company has experienced significant growth in the past 18 months, increasing the size of its team from 18 to 35 and doubling its floorspace by taking on a second 15,000 sq ft unit at the Thorp Arch Estate in Wetherby, West Yorkshire.
The funding, which comes from the Northern Powerhouse Investment Fund II (NPIF II) managed by Mercia Debt Finance, will enable the business to complete a fit-out and provide additional working capital as it steps up production.
Haroon Qammar, Growth Manager at Leeds City Council, worked closely with Naturaw to help the company identify appropriate business support and introduced it to Mercia Debt, part of venture capital investor Mercia Ventures. The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up or scale up.
Naturaw founder and director Jess Warneken: “Dogs are designed to eat fresh, natural, raw food rather than processed ingredients and we’re passionate about creating the best raw food we can. As demand continued to rise, it was clear we had outgrown our existing premises and we had no option but to take on and fit out a second unit.
“Together with the funding from Mercia and NPIF II, we now have both the space and the finance we need to continue growing the business.”
Gary Whitaker of Mercia Debt added: “Naturaw is a purpose-led business that has quickly built a following amongst pet owners and become a leader in its field. Access to funding is vital for fast-growing firms like these as they are constantly having to invest in bigger premises, new equipment and staff and they need more working capital.
“We are pleased to be able to support the Naturaw team as they take the business to the next stage of its development.”
