‘Luxury’ outdoor furniture firm boosts global presence with new funding

A North Yorkshire outdoor furniture company has secured funding to enhance its global footprint.

Akula Living in Wetherby has secured an undisclosed sum of funding from Leeds-based Reward Finance Group to expand its international reach.

Specialising in the contract market, Akula provides bespoke furniture designed to withstand UV, seawater, chlorinated water, extreme temperatures and the heavy usage of a hospitality environment.

With clients such as Marriott, TUI Cruises, Waldorf Astoria Casa Marina Resort and Jumeirah Beach Hotel, the firm already has its own design and manufacturing facility and offices in America, Europe, the Middle East and the Far East.

Reward Finance Group was advised by Clarion’s banking and finance team on giving the funding to Akula.

Alec Walton, Akula Living’s managing director, commented: “With demand for our furniture really taking off, Reward [Finance Group] knew we needed a quick cash injection to meet the orders, and we are now looking forward to a record year for the company as we expand our global presence.”

Reward Finance Group’s joint managing director, David Jones, added: “Having met with the Akula Living’s management team, seen the quality of its furniture and analysed its impressive client list, we quickly arranged the funding to provide the additional working capital it needed to step up production to meet demand.”