THE WHAT? BYBI has announced that it has secured an £1.9 million asset-based lending facility from Independent Growth Finance in order to accelerate its push in to the US market and expand its range of sustainable beauty products.
THE DETAILS “As a growth business generating revenue over long payment terms, the funding from IGF will be crucial in allowing us to realise cash from sales and invest in growth,” said Co-founder of BYBI Dominika Minarovic. “Since the funding has come through things are much calmer, giving us the capacity and capital to focus on what matters- growing the business and developing pro-planet, skin-positive products.”
THE WHY? The funding will provide BYBI with the working capital necessary to expand its marketing and sales push into the US as well as invest in developing sustainable and natural supply chains across its product line, with the ambition to become the world’s first carbon-negative beauty brand.
Commercial Director at IGF, Michael Fletcher, commented, “IGF is pleased to play a part in helping this exciting young company achieve its goals. We pride ourselves in being great partners for high-growth and mid-market firms who all too often lack access to fast, flexible finance from traditional lenders.
“The business fundamentals driving BYBI’s impressive growth were clear, and allowing [it] to realise long-term orders into working capital will accelerate [its] trajectory, giving [it] the best chance of establishing [itself] as leaders in the sustainable beauty space.”
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
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Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
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Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
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Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
