Iglu poised for growth
Ski and cruise specialist Iglu.com has secured £7.5 million in funding from RBS to fund future growth.
The deal will refinance its existing bank and shareholder debt with GCP and provide working capital.
It will see Iglu switch all of its operational banking, including payments and payroll, to RBS.
"This refinance means the company is now in a great position to grow and we are delighted to be able to support them in this future growth," said Neil Parry, sector head consumer industries at RBS.
An RBS spokeswoman said the deal demonstrated how interested the bank is in investing in the travel industry.
Iglu CEO Richard Downs CEO added: "We realise how important a strong working relationship with the bank can be and we have known the management team at RBS for over 15 years now and have seen how committed they are to the sector and we at Iglu, are very excited about developing this relationship further."
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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