Finance For Enterprise (FFE) has assisted Northampton-based Mobocom Ltd with a £200,000 business loan, providing funding to support the company’s continued growth in the rapidly expanding electric mobility and action sports market.
Trading under brands including Beyond PEV, Mobocom specialises in the retail, repair and servicing of e-bikes, e-scooters and electric skateboards, alongside accessories and related products. The company also works closely with skate parks, community groups and sporting organisations, providing equipment, repairs, demonstrations and event support.
The company, which was incorporated in 2013 and is led by director Peter Harvey, has seen sales grow year-on-year and is developing a number of new opportunities across the UK.
The £200,000 funding, facilitated by Finance For Enterprise, will help Mobocom manage the working capital requirements associated with placing larger advance orders with suppliers in China and France, while ensuring it can meet growing customer and event demand.
As part of its growth plans, Mobocom has signed agreements with stores in Manchester and Newquay, enabling its products to reach established skate communities through retail, events, promotions and regular meet-ups.
Mobocom also provides support at regional and national skate events, festivals, community sessions, galas and competitions, working with organisations across the sporting, wellness and charitable sectors. Its event activity has included engagement with organisations such as Skateboard UK and Sport England, while brands and organisations including Etnies, Triple Eight and UK Sport are increasingly engaging the business to support events across the UK.
Peter Harvey, Managing Director of Mobocom Ltd, said, “We have built the business around a combination of retail, product expertise, repairs and, increasingly, our involvement in the wider electric mobility and action sports community. Demand has continued to grow and we are seeing some exciting opportunities to take the business into new markets and work with more organisations across the UK.
“The funding gives us the ability to invest in the stock we need to fulfil larger orders while also restructuring existing borrowing. That gives us a much stronger platform from which to continue growing, particularly as we expand our relationships with retailers, community groups and event organisers.
“Finance For Enterprise understood what we were trying to achieve and the opportunity in front of the business. Their support has given us the confidence and financial headroom to take the next step.”
Jeremy Meadowcroft, Business Lending Manager at Finance For Enterprise, added “Mobocom is a great example of a business that has identified a growing market opportunity and developed a proposition that goes beyond traditional retail. Peter and the team have built strong relationships across the retail, sporting and community sectors, and there is a clear opportunity for the business to continue expanding.
Finance For Enterprise provides access to finance for established and growing businesses, helping companies secure the funding they need to invest, expand and achieve their ambitions.
