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Tusker secures backing from Barclays bank
Date: 14 January 2013
Leasing company Tusker has secured financial backing from Barclays bank to invest in its vehicle fleet.
Tusker, which claims to be the market leader in the salary sacrifice sector with its SalarySacrifice4Cars product, said the high-street banking giant had made a multi-million pound funding line available to the firm and supported the expansion of its fleet with asset finance facilities.
Tusker has moved all its transactional banking arrangements over to Barclays.
David Brockwell, chief financial officer at Tusker, said Barclays was now integral to its future planning and added: "We're delighted that Barclays has recognised the genuine business and growth opportunity at Tusker and that they've joined the number of other new funders that we have attracted."
Gareth Farbon, relationship director at Barclays, said: "Our facility will allow Tusker to expand their vehicle fleet, which is key to them fulfilling their ambitious growth plans."
The company is looking to expand from the 31 staff employed in early 2011 to 108 by the end of next year, with salary sacrifice schemes being the prime driver of growth as the firm targets 15,000 salary sacrifice units by the end of 2014.
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