A London lettings agency that has already acquired an independent has now received what is described as a “six figure” loan to allow it to snap up others.
Champions was founded in 2008 by the merging of two letting businesses - Home Made Ltd and Company Ltd.
Merged company bosses Guy Watson and Charlie Champion described the merger as an opportunity to pool resources, enabling the combined business to open a shop-front in a prime London location. More recently Champions acquired Central Locations.
The company wanted to continue this ‘buy and build’ growth strategy but their applications for conventional bank loans were refused because their approach was considered too complex.
“We started as a small business with big ambitions, growing organically and battling for our place within a competitive market” says Champion.
Now a specialist FinTech lender, ThinCats, has stepped in.
A statement from the lender says the new funding will be used by Champions to clear debt and provide a pot for future acquisitions.