WeBuyBooks secures seven-figure funding for growth

WeBuyBooks is to purchase new premises after securing a seven-figure funding package from HSBC UK.

The online book recycler and retailer will acquire the Grade II-listed Lambert Mill in Rawtenstall, and the 120,000 sq ft it offers will its increase available storage space by 300 per cent.

Once renovations have completed, the team of 170 currently based at Waterfoot will begin transferring over.

WeBuyBooks is also planning to increase its workforce by 15 per cent this year to support growing demand in the USA, Europe and Australia.

Mike Lane, managing director of WeBuyBooks, said: "The backing from HSBC UK has ensured that we are in a position to purchase the new premises. Once we have relocated to the new site and are fully operational, we can continue to grow our customers base throughout the UK and overseas.”

Simon Copeland, relationship manager for HSBC UK, added: "We are pleased to be supporting the WeBuyBooks team as they bolster their expansion plans and progress with an ambitious international growth strategy over the next five years. We are looking forward to seeing the company grow its team and relocate into their new headquarters once the renovation is complete."

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