GoVantage gears up with funding boost

A Stoke-on-Trent-based vehicle rental business is accelerating its expansion after securing funding to enhance its fleet and technology.

GoVantage has received £15,000 from First Enterprise through the British Business Bank’s Start Up Loans programme to support its next phase of growth.

The company provides specialised van rentals for service providers, particularly couriers, combining competitive pricing with a platform for booking, tracking and maintenance management.

Founder Ionut Balaj launched the business after identifying inefficiencies in the sector, including challenges around vehicle profitability and fleet performance tracking.

Ionut says the funding will be used to invest in additional vehicles, improve its booking and auditing software, and strengthen operational systems, enabling more efficient fleet management and improved visibility over servicing and expenditure.

He said: “A key challenge has been sourcing suitable vehicles at competitive prices, which fluctuate significantly throughout the year.      

“My experience with First Enterprise was exceptional, highly professional, patient, and instrumental in helping me achieve my business goals. 

“I highly recommend their services.”

Inderpal Singh, investment manager at First Enterprise, added: “I really enjoyed working with Ionut through his application. 

“His business idea is interesting, and I admire his dedication to being proactive in addressing a need in the van rental industry. 

“I wish him the best of luck, and I look forward to seeing his business thrive.”

Louise McCoy, managing director, start up loans products, British Business Bank, added: “The Start Up Loans programme is designed to help smaller businesses access vital equipment to kickstart their ideas with much needed finance. 

“The Bank looks forward to seeing GoVantage’s progress as they continue to close a gap in the market with efficient solutions in the industry.” 

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.