Blue Sky Corporate Finance has successfully assisted the management team of Midlands based online retailer, Poundshop.com, to secure a £1.7m investment from Foresight that will enable the business to upgrade its IT infrastructure, expand warehousing capacity and implement its marketing strategy.
Poundshop.com was founded in 2014 by Chairman Steve Smith, founder of Poundland. Now the largest UK online, single priced retailer, Poundshop.com offers a wide range of everyday household essentials available with the convenience of home delivery.
Steve Smith, Chairman, Poundshop.com said: “We recognised early on that we needed to work with a business advisor that could not only provide us with the expert advice we needed on identifying the right finance package but could also then successfully help us to secure the funds. The advice and support we received from Blue Sky Corporate Finance throughout the whole funding process proved invaluable and has ensured the deal completed to enable future growth of the business.”
Donna Baker, CEO, Poundshop.com added: “This is an exciting step forward for our business. We want to be able to continue to provide the largest UK online pound shop and the funding we have secured through the help of Blue Sky Corporate Finance has enabled us to fulfil this ambition. Tony Seaton, Blue Sky Corporate Finance, took the time to understand our business requirements, provide us with unbiased advice, and guide us through the whole process. Having Tony on-hand was an immense help.”
Tony Seaton, Associate Director, Blue Sky Corporate Finance commented: “We always strive to offer our clients the very best advice and support services, tailored to their specific needs. It was a pleasure to have worked with the inspirational management team at Poundshop.com and to have helped them secure the future success of the business.”