Rewards platform earns £16.5 million growth boost

A rewards and loyalty platform company has secured £16.5 million support to boost growth plans.

Ello Group has been backed by HSBC.

The Huddersfield-based company says the revolving credit facility agreement will fuel expansion ambitions under owner Dragonpass.

Ello Group’s rewards and loyalty programmes cover dining, coffee, pizza delivery, cinema and days out, and include Tastecard, Gourmet Society, Coffee Club and Vue Pass.

The business was advised on its financing deal by Leeds and Bradford-based law firm Gordons.

Matt Peters, Ello Group chief financial officer, said: “This is an important step as we continue to support our growth plans under Dragonpass’ ownership. 

“Gordons was a great partner throughout the transaction, providing trusted advice and support.”

Gordons’ team was led by banking partner Ben Roden alongside solicitor Gresa Bakolli.  

Ben added: “This financing provides a platform for Ello Group as it continues to enhance its offer and strengthen customer engagement capabilities.

“We look forward to continuing to help the business navigate this new chapter and the opportunities ahead.”

The work adds to Gordons’ client book that was recently bolstered by support for convenience store and petrol forecourt retailer Samy Group’s £15 million expansion.

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