Sauce Shop is the brainchild of husband-and-wife team Pam and James Digva, who were underwhelmed by the sauces they were buying from supermarkets when they founded the business in 2014. Having established a reputation for high-quality products, they now have a team of 29 people, producing condiments including ketchups, curry sauces and spice rubs. The Nottingham-based company recorded growth of more than 300% year-on-year in 2020.
Product: Revolving credit facility (under the CBILS scheme)
Enter new markets and expand its team.
Sauce Shop will use the working capital provided by its CBILS facility to enter new markets and expand its team. The funding has also enabled continued growth in the firm’s major channels, including Amazon and Sainsbury’s in the UK and Whole Foods in the US.
Julian Hornby, principal at Growth Lending, says: “Having met James at a trade show, not long after the company’s launch, it’s been amazing to be a part of Sauce Shop’s extraordinary journey. We are looking forward to supporting the firm’s next stage of growth.”
James Digva, co-founder of Sauce Shop, says: “We’ve worked with Growth Lending for more than three years, initially using an invoice finance facility to manage our cash flow while the business grew rapidly. Now, our CBILS facility has provided working capital to enable continued growth in our major channels. Julian and the team have been fantastic to work with, extremely diligent and proactive in their approach to providing support.”