CommercialFleet

Funding for Vanarama to invest in new vehicle stock

Commercial vehicle broker Vanarama is aiming to raise £3.4m through online platform Crowdcube to fund new vehicle stock.

The funding will cover a significant stock of new commercial vehicles so customers can get their new van in three days – instead of the usual three weeks. The Bond offers 8% p.a paid quarterly over four years.

Managing director Andy Alderson said: “The commercial vehicle sector in the UK is predicted to grow by 10-12% this year alone. In 2014 our market grew by 11% whereas our sales volume grew by 56%.

"Our turnover in 2015 is £18 million, an increase of 76% on 2014. We’re a strong, customer focussed brand that continues to invest heavily in our internet platform so that customers can find their vehicle online, access a quote in seconds and order their new van in minutes."

"We invest heavily in bricks and mortar too, employing 95 people at our head office in Hemel Hempstead, with 52 field-based regional offices throughout the UK.

“We’re now embarking on the next stage of our growth, aiming to do something our industry has never managed to do before; namely to deliver a new commercial vehicle to a customer within three working days rather than the industry standard of three weeks. The Vanarama Bond will help us to achieve this ambitious aim. Our customers are time pressed and their van is vital to their business. Speed of delivery is crucial.”

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