County Durham Sauna specialist turns up the heat with five-figure funding
A North East-based firm specialising in authentic Finnish saunas is set to double its workforce with new five-figure funding.
Finnmark Sauna has secured £50k investment from the North East Small Loan Fund, supported By the European Regional Development Fund.
Established by entrepreneurial brothers Jake and Max Newport four years ago, Finnmark Sauna specialises in authentic Finnish saunas.
The business has recently moved into bigger premises on the DurhamGate development in Spennymoor and is also aiming to strengthen its supply chain as well as double its 15-strong workforce.
Finnmark Sauna co-founder Jake Newport commented: “The saunas that most of us have experienced at a gym or swimming pool are a million miles from the authentic Finnish sauna experience that we deliver to our clients and we’ve spent the last four years building an understanding of what this actually entails.
“A proper Finnish sauna needs to be made with specific high-quality materials, and must be properly insulated, ventilated and vapour-sealed to ensure it provides an authentic user experience.
“We’ve found there’s been a real enthusiasm for the quality products that we’re providing and we’re confident that there are many more opportunities out there for us to build on the foundations we’ve laid.
Commenting on the funding, Jake continued: “We had a lot of personal contact with the NEL team around our development plans and the insight they provided helped us enhance our business plan as the application process progressed.”
Jonathan Armitage, investment executive at NEL Fund Managers, added: “Finnmark has already carved out a significant niche for its high-quality products.
“The ideas they put forward for the next stage of their development made a very compelling investment case.”
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