Pictured above, l to r: Longstanding shareholder Jack Ogston, a financial sector veteran following a long career with Clydesdale Bank and various non-executive roles. He joined Pike + Bambridge’s board in August as a non-executive chair and investment director; Emma Blyth, head of people, joined last year from EY, a role that will support onboarding further positions this year including head of brand, and head of partnerships; and CEO Piers Bambridge.
EDINBURGH based broker Pike + Bambridge has secured £500,000 investment funding in the first tranche of a £1m investment to drive growth.
Pike + Bambridge said it had secured the funds exclusively from clients.
The broker said its 2,000 strong client base included The R&A world golf museum in St Andrews, lawyers Brodies LLP, chartered accountants French Duncan, the Faculty of Advocates – an independent lawyer body, Hibs and Aberdeen football clubs, and over 300 sports stars including ex-footballer and now football pundit Ian Wright, former Scotland rugby captain and TV pundit Andy Nicol, and cricketer Kumar Sangakarra.
The business said it was embarking on the second tranche of its £1 million investment target, and expects to close the round during Q2.
The company, built primarily on referral, says it grew revenue to £3.7 million in 2022, while growing headcount to 16 at its Edinburgh, Aberdeen, and London hubs.
Our longer term growth strategy centres on a typical client passing us one extra client every year. With an agile and customer-focused team, we are able to offer a much more personal service than larger leasing providers, and our next phase of growth will see us up headcount and continue expansion across the UK. We opened a London hub last summer, and that’s helped us make inroads in south-east England.
Piers added that the leasing broker was also planning to launch a fintech platform this year which will aggregate pricing from over 26 auto manufacturers and seven leading funders, which the company says will enable clients to see live pricing and automated finance decisions, and “simplify client journeys”.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
