A Yorkshire indoor climbing operator has secured a £150,000 loan from NPIF II – Mercia Debt Finance, which is managed by Mercia Debt and part of the Northern Powerhouse Investment Fund II (NPIF II), to expand its business with the launch of a third venue.
Freeklime, which currently has centres in Huddersfield and York, has already started construction at the new site in Lincoln, which is due to open early next year. The funding will enable it to complete the fit-out and create seven new jobs.
Freeklime was founded by climbing enthusiast Chris Whitehead, the Managing Director, and his father Rob, a serial entrepreneur who runs the Serious Sweet Confectionery Group in Harrogate and acts as a Non-Executive Director. They launched the Huddersfield centre in 2019, and York in 2023. Between them, the two sites now attract around 100,000 visitors a year and have over 1,000 members on monthly subscriptions.
The company, which currently employs 16 staff, aims to have five profitable sites by 2030 with a turnover of £3m. Freeklime specialises in bouldering, a form of climbing at heights of below 5m, avoiding the need for harnesses and ropes and using crash mats for protection. Bouldering uses short, explosive movements and focuses on problem solving and building strength.
Chris Whitehead, founder and Managing Director of Freeklime, said: “Bouldering is a very inclusive sport that offers fitness and mental health benefits. It is suitable for people of all ages and abilities and a great way to spend time with family and friends. Our centres have a real community feel and we try hard to make new climbers feel welcome. The funding will enable us to expand outside Yorkshire for the first time in line with our long-term growth plans and our mission to make climbing accessible to a wider audience.”
Andy Clough of Mercia Debt added: “Chris is an enthusiastic climber who understands what makes a great climbing centre. The business has been growing turnover year on year. We are pleased to support the team with the launch of this new centre and help establish Freeklime as a leading regional independent.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
Lizzy Upton, senior investment manager at British Business Bank, said: “Now on its third site, Freeklime’s growth reflects the strength of Northern entrepreneurship. The business is creating community-driven spaces, generating new jobs and contributing to vibrant local economies. By improving access to finance, NPIF II is helping ambitious businesses like Freeklime take the next step and unlock new opportunities.”
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.