Yorkshire Bank funding triggers expansion and job boost at tech firm

Following a seven figure funding deal with Yorkshire Bank, a supplier of high-tech electronic accessories has now expanded into new 14,000 sq/ft premises.

Bluechipworld Sales and Marketing Limited has used the funding to move into new headquarters in Cannock, Staffordshire. The company also has an office in Hong Kong.

Bluechipworld produces six of its own technology brands and supplies accessories to customers such as Sainsbury’s, Argos and Amazon and also distributes the MiTEC product line exclusively to Tesco.

In addition, the company was the first in the UK to introduce Virtual Reality goggles at the Gadget Show Live conference in Birmingham under the iCandy name. iCandy is also known for its Safari speakers line, where the animated speakers dance and sing along to music.

As well as assisting with the company’s relocation to the new premises, the seven figure funding package from Yorkshire Bank has enabled the organisation to increase the number of employees by 13%, across several sectors including sales, marketing, finance and operations over past four months.

The funding package was facilitated by Peter Brooke, relationship manager at Yorkshire Bank’s customer banking centre, David Hewitt of the bank’s asset based lending team and Simon Hayden, the bank’s international trade manager in the region.

Simon Hassell, CEO of Bluechipworld, said: “We have experienced continual growth over recent years and the move to our state of the art headquarters has been a big milestone for the business.

“Securing the funding from Yorkshire Bank has allowed the business to thrive and we aim to continue our growth over the coming years. The support we have received from Yorkshire Bank has been remarkable. Their team stood out amongst the other competitive offers supplied by high street banks.

“Our business is quite diverse and having a personal relationship manager who takes the time to really understand what you do is important. The team has demonstrated a real willingness and positive approach to assisting us in reaching our ambitions.“

Gareth Jones, head of Yorkshire Bank’s commercial & small business - relationship management teams, added: “Bluechipworld Marketing and Sales Ltd has demonstrated a genuine entrepreneurial track record, identifying new opportunities and maximising these.

“We are proud to have supported the business at such an exciting time and look forward to working with the team as they continue to grow the business.

“Yorkshire Bank remains focused on supporting the growth ambitions of businesses in the West Midlands.“