Wireless charge furniture company receives £25k Northern Powerhouse investment

Furniture business Frank Olsen Furniture has received a £25k investment from the Northern Powerhouse Investment Fund (NPIF).

The Cheshire-based firm will use the five-figure backing to acquire new stock to deal with an uptick in orders and bring roles in-house to improve margins.

Frank Olsen Furniture, led by managing director Charlie Graybrook, also plans to create three new jobs.

Headquartered in Nantwich, Frank Olsen Furniture designs and manufactures bedside, cabinet and TV and media stands that incorporate remote technology to wirelessly charge smartphones and other mobile devices.

Since it was founded in 2016, the company has gone on to secure deals with retailers House of Fraser, Bensons for Beds, Arighi Bianchi and others.

Frank Olsen Furniture MD Charlie Graybrook said: “Interest in wireless charging continues to pick up momentum and, with major companies just beginning to explore its capabilities, businesses utilising this technology that have already launched quality products to the market are in a great position to capitalise.

“We have seen first-hand the strong demand for this technology and have been delighted with the response our products have received by customers and major retailers.”

He added: “With this investment from NPIF, we are able to invest in new stock, bring roles in-house and create new jobs, allowing us to build on the strong growth we have already achieved since we launched last year.”

The investment was made through NPIF – BFS & MSIF Microfinance, an NPIF product fund run by Business Finance Solutions and MSIF

Mark Gibbons, senior loans manager at Business Finance Solutions, commented: “Having received a Start Up Loan from BFS last year, Charlie and his team came back to us to secure the additional finance they needed to continue to build their presence in this emerging market.

“Having developed a range of furniture that offers both stunning aesthetics and intelligent features, this new investment from NPIF means that the business is now in a strong position to grow and to maximise the opportunities for their intelligent furniture to shape the way we live and work.”

British Business Bank senior relationship manager Sue Barnard said: “Businesses in Cheshire and Warrington continue to display a strong appetite for growth, investment, and a desire to innovate.

“Frank Olsen Furniture is a prime example of a business that is ahead of the curve, and we look forward to seeing what its talented management team can achieve with this NPIF investment.”