Ocado Retail Ltd has secured a multi-million pound funding package from Shawbrook to strengthen its delivery capabilities across the UK.
This investment will see the acquisition of 43 refrigerated vans, enhancing Ocado’s capacity to meet increased customer demand.
Prioritising continuous fleet optimisation for efficient deliveries, Ocado partnered with Charles & Dean Finance, a specialist commercial finance broker.
Charles & Dean connected Ocado with Shawbrook’s digital SME team – which structured a bespoke multi-million-pound package that facilitated the acquisition of the vehicles.
Mat Ankers, chief financial officer at Ocado Retail, said: “The teams at Shawbrook and Charles & Dean have excelled throughout this process.
“They listened to our needs and built a product tailored to that, supported us through the process and communicated clearly and transparently throughout.
“It’s refreshing to work with businesses who have the same growth mindset and delivery focus as Ocado has.”
Omar El Faramawi, head of external sales for digital SME at Shawbrook, said: “We identified a strong synergy with Ocado’s approach, which, like ours, leverages a blend of human expertise and digital solutions to deliver an exceptional customer experience.
“This focus was evident in our collaborative approach to this transaction.
“Our sales, legal, risk, credit and post-approvals teams worked seamlessly alongside longstanding broker partner, Charles & Dean to curate a bespoke funding solution with great efficiency.
“We’re proud to be partnering with Ocado and look forward to working further with them in the future.”
Tom Perkins, director at Charles & Dean, concluded: “Ocado needed a financing solution that was both swift and adaptable, despite the deal’s complexity.
“Human expertise and a tailored approach were crucial. We were confident Shawbrook could fit the bill perfectly for Ocado, and we’re delighted to have facilitated this successful partnership that helps Ocado achieve its objectives.”
