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Tusker wins Santander backing
Date: 15 March 2013
Leasing firm Tusker has won financial backing from bank Santander to help fund the planned expansion of its vehicle fleet, following a similar deal with Barclays at the beginning of the year.
The company, which claims to be the market leader for salary sacrifice with its Salary Sacrifice 4 Cars product, said that Santander is supporting Tusker with a multi-million pound funding line "because of the growth of SS4C and the potential it believes the product and company have".
Tusker declined to comment on its growth ambitions following the announcement, but has previously told BusinessCar that it targets 15,000 salary sacrifice units by the end of 2014. Its vehicle fleet stood at 8036 in November 2012 and the firm currently runs 95 schemes for businesses.
Charles Johnson, relationship director, Large Corporate Group at Santander Corporate and Commercial, said: "It is a fast-growth business that is performing successfully and we are delighted to have provided Tusker with this new funding facility to help further boost this growth."
