Wetherby furniture company secures £480k to support job creation plans

An outdoor furniture company has announced that it has secured £480k in funding to support ongoing job creation.

Akula Living, based in Wetherby, has secured a £480k loan from NPIF – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund (NPIF).

The company, which services a range of contract markets, said that the investment has supported the creation of two new jobs and is slated to create stability for the firm.

The NPIF – FW Capital investment was facilitated by senior investment executive Anne Blanden and investment assistant Rachel Smith.

Anne Blanden commented: “Akula is a successful company with an extremely experienced management team who have ably navigated the significant turbulence in their market sector during the pandemic and their performance is commendable with sales holding up and increasing.

“This £480k NPIF loan will provide continued stability and the confidence to move forward, investing in growth capital which will support ongoing job creation.”

Tim Appleton, Akula’s CEO, said: “Akula has a reputation as one of the world’s leading designers and manufacturers of outdoor furniture, with collections known for their perfect combination of style and performance.

“The NPIF – FW Capital funding will enable us to focus our efforts on expanding our global operations and developing our business in new markets. We are grateful to Anne Blanden, the FW Capital team and NPIF for their support.”