Ocado Retail Ltd (Ocado), a leading player in the UK grocery retail sector, has recently secured a bespoke debt facility via Charles & Dean, a leading commercial finance broker. Charles & Dean have worked closely with one of their specialist funding partners, Shawbrook Bank, to build a product tailored to navigate the complexities surrounding Ocado’s funding requirements.
With an ambition to expand their delivery capabilities across the UK, Ocado utilised this innovative solution to add 43 new refrigerated vans to its fleet, marking the next stage of the company’s continued growth trajectory.
Mat Ankers, Chief Financial Officer at Ocado, said:
"The team at Charles & Dean have excelled throughout this process - from the first phone call they have been diligent, proactive and motivated to support Ocado Retail. Jack, Tom and the whole team listened to our needs and built a product with a funder tailored to our specific needs. The support through the process and quality of communication and persistence to the end has been brilliant. It's been refreshing to work with a business who have the same growth mindset and delivery focus as we have and I would not hesitate in using Charles & Dean in the future or recommending them to other businesses."
Tom Perkins, Director and Co-founder at Charles & Dean, said:
"Meeting Ocado's current funding requirements while strategically planning for future growth was essential. Through our proactive approach and collaborative partnership with Shawbrook Bank, we developed a tailored solution that not only meets Ocado's immediate needs but also ensures scalability for future investments.”
Omar El Faramawi, Head of External Sales for Digital SME at Shawbrook, said:
“We identified a strong synergy with Ocado’s approach, blending human expertise and digital solutions for exceptional customer experiences. Our seamless collaboration with Charles & Dean ensured efficient delivery of a bespoke funding solution.”