In each issue of The Insight we will showcase an example of a company that has utilised our Complete Connected Capital. This time we shine a light on CurrentBody.
CurrentBody offers consumers clinically proven electronic health and beauty products, with results comparable to those of in-clinic treatments. The Cheshire-based business received original investment from Mercia back in 2018.
Since the initial investment, CurrentBody has expanded its presence to become an authority in the sector, a significant part of which was down to the debt funding supplied to Mercia to cope with the higher demand for its products during the COVID-19 pandemic.
Like many online businesses, CurrentBody struggled to obtain the working capital needed to purchase the required stock to operate online, until a term loan was provided to them by Mercia.
The company has seen significant growth since initial investment from Mercia, with annual growth of c.60% since the first year of investment, with the UK accounting for one-third of its total revenue this past year, and successful expansion into 50 territories including Singapore, Japan, Canada and Russia.
Operating in a market forecast to be worth c.£107billion by 2024, CurrentBody will look to cement a strong presence in the global beauty market with the backing of Mercia’s debt and equity finance.