Fragrance Group London has secured £600,000 funding from alternative finance lender, Growth Lending, to expand its fragrance portfolio and grow its network.
The company specialises in the creation, marketing and distribution of signature fragrances and beauty products.
Brands such as lifestyle magazine Elle, singer Michael Bublé and British designer Matthew Williamson all sit within its fragrance portfolio.
The specialist fragrance distributor will use the funding to enhance its working capital ahead of peak seasonal periods and maximise its sales potential across its global distribution network.
Growth Lending’s flexible invoice discounting facility will also help the business to expand its portfolio of fragrance brands.
The lender has offered a flexible GBP, USD and EUR facility with scalability.
Paul Devin, CEO of Fragrance Group London, said: “This funding comes at an exciting time for the business as we head towards the peak Christmas sales period and look to maximise the exposure of our brands.
“We also have several new product launches in the pipeline, including a trio of sustainably and ethically sourced fragrances for the NaturELLE collection.
“The facility will provide us with the working capital to continue our upward growth trajectory.”
The company also has relationships with high street retailers Boots and Superdrug to expose its brands to audiences in more than 30 countries.
Julian Hornby, Principal at Growth Lending, commented: “Working with Fragrance Group London and getting to know the business has been a great experience.
“We have been particularly impressed by the strong management team and very much look forward to building a long-term partnership and watching the company continue on its exciting growth trajectory.”
Growth Lending is a provider of tailored funding for high-calibre B2B firms.
