Leicestershire-based wholesale drinks trader secures over £23,000 funding for business growth
Marty’s, a multi award-winning wholesale drinks trader based in Leicestershire, has secured £23,500 in funding from First Enterprise under the British Business Bank’s Start Up Loans programme. The funding was used to support business expansion.
The wholesale drinks trader offers a range of multi award-winning, Virgin Bloody Marys. Marty’s proudly takes a different approach to creating tomato juice drinks, formulating their recipe to be low in sugar, as well as being vegan accredited.
The funding from Start Up Loans’ Business Support Partner, First Enterprise, was used to grow the business. The co-founders self-funded the business, originally starting from their garage. With the funding, they have now been able to keep up the momentum and continue scaling their business sustainably here in the UK. Marty’s is currently rolling out across 300 stockists and is due to be available in Ocado.
Co-founder Paula Raubenheimer started the business with her brother, Martin Raubenheimer. They were inspired to start experimenting with their own Virgin Bloody Mary recipe after having been disappointed by what was available.
Paula’s background is in strategic development of start-ups, primarily in the digital space. With her brother, she ran an ethical deli and butchery, and with food being central to their lives, the creation of Marty’s was a natural extension of their passions and experience.
First Enterprise provides business loans ranging from £500 – £250,000, which are funded through several regional funds, for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests any surplus into loan funds to further support economic growth and job creation in the local communities.
Paula commented: “We faced the classic challenge of cashflow being a big barrier to entry into the industry, especially when trying to grow. The Start Up Loan has been a game changer; without it we simply wouldn’t have been able to take the steps we’ve taken to produce the product.
“My experience with First Enterprise was fantastic. Having an Investment Manager like Inderpal with a clear, objective perspective, who could advise on the best way to approach the application, was invaluable. I’ve really enjoyed the experience and have gained a lot from the support and guidance along the way.
Inderpal Singh, investment manager at First Enterprise, comments: “I could see Paula’s passion behind the business, and was amazed at how her and her brother had created their own Virgin Bloody Mary recipe from scratch. It was a pleasure working with Paula through her loan application, and it is wonderful to see how their business has taken off. I wish them both the best of luck and continued growth.”
Louise McCoy, managing director, Start Up Loans Products, British Business Bank, added: “Continuing business expansion and securing prominent national UK stockists is a fantastic way to see the Start Up Loans in action. Helping founders realise their business ambitions here and supporting more investment into the UK economy is a great application of the funding, and we look forward to following this business journey.”