YourZooki secures £1.6m funding for US expansion

Preston-based supplements manufacturer YourZooki has secured a £1.6m funding facility to aid its expansion into North America.

The funding from Metro Bank consists of an £800,000 Coronavirus Business Interruption Loan (CBIL) and an £800,000 invoice financing facility. It will enable YourZooki to scale up its international distribution network after signing a contract for US and Canadian market entry with GNC (General Nutrition Centre), the world’s biggest specialist supplement retailer.

Metro Bank’s backing is the third round of investment secured in just under 12 months by YourZooki. In August, the company received a £950,000 funding package from Investec, and underwent two funding rounds totalling £300,000 with the Lancashire County Council Rosebud Fund, managed by GC Business Finance.

The funds so far have enabled YourZooki to significantly expand its Blackpool and Preston-based production capabilities, after demand soared during the pandemic. Its direct-to-consumer sales increased by 750 per cent - largely driven by the continued growth of its recurring subscription base revenues.

YourZooki’s products are also available through UK high street retailers including Boots, Holland and Barrett, Harrods, Selfridges, Planet Organic and Wholefoods as well as John Bell & Croydon, the pharmacist to Her Majesty The Queen, where theirs is the top selling vitamin product.

In 2021 YourZooki will be rolling out a number of new products within the US and UK including Hydrolysed Marine Collagen, Vitamin D3 and Probiotics supplements.

Marcus Mollinga, co-founder of YourZooki, said: “2020 was obviously a demanding year for many businesses, but we were fortunate to be able to scale up quickly and enjoy incredible growth as a result of market conditions brought on by the pandemic. There have been noticeable shifts in consumer behaviour towards prioritising health and wellbeing, and with it an increase in demand for more effective and enhanced supplements than the traditional pills and powders.

"Our sales have risen considerably as a result, and Metro Bank’s funding will enable us to meet this increased demand, grow our operations and concentrate on our US and Canadian expansion."

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