BED linen company Linenbundle has secured a £1 million investment from the Growth Finance Fund to support further job creation following a 170 per cent growth spurt in its business over the past year.
Invest NI has also offered £93,375 of support towards marketing development activities and the creation of nine more jobs.
Based in Lisburn, it sells luxury bed linen through an e-commerce platform, with its linen made with 100 per cent long-staple cotton spun from a single-ply which gives the sheets a luxurious feel.
Its brand has recently expanded to include duvets, pillows, throws and cushions, and has already grown its workforce to 13 employees. These roles were created with support from Invest NI towards nine new jobs, five of which are in place.
Linenbundle's co-founder and chief executive Thomas Glackin said: “Our goal was to bring quality luxury bed linen direct to a wider consumer audience, at an affordable price, and we’ve been able to achieve that in a relatively short space of time.
“This funding gives us the opportunity to expand our inventory and team in order to meet the ever-growing demand for our products across the UK and Europe.”
Jenna Mairs, senior investment manager at Whiterock Finance, which manages the £30m Growth Finance Fund, said: “Due to the Covid-19 pandemic, the e-commerce market has seen accelerated growth, with the online shopping trend becoming the preferred method of shopping for consumers.
“Linenbundle’s unique offering and high growth potential makes it an ideal candidate for funding, and after a £400,000 investment from the Growth Loan Fund II last year, it has continued to show promising growth and has seen increased demand in the European market.”
