Online retailer Tile Mountain has just received a seven figure funding package to facilitate its expansion to a five acre site in Tunstall, Stoke on Trent.
The acquisition was supported with a loan from the Royal Bank of Scotland, and Tile Mountain has now moved into the £10m purpose-built head office and distribution centre, which it says will “provide more suitable space for the expanding business to operate from.”
The 12,000sq ft building comprises warehousing, showroom and office space. Established in 2013, Tile Mountain is today run by two of its original founders, former Tile Giant owner Mo Iqbal and ex Topps Tiles commercial director Jeremy Harris. Over the last four years it has become one of the fastest growing online tile retailers, experiencing 60% year-on-year growth for the last three years.
Plans are in place to create 70 new jobs over the next three years as a result of the company's successes. RBS has provided Tile Mountain with the funding to support the £10m purchase, development and relocation costs of the new premises.
Tile Mountain managing director Jeremy Harris said: “We are thrilled with the new site. It has been specifically designed to meet our growing business needs and has enable us to greatly improve our operational efficiency.
“Steve Jackson and the team that we have worked with at Royal Bank of Scotland have been a great support to us throughout this exciting time. The funding process has been handled very smoothly and has enable us to create this outstanding facility.”
RBS relationship director Steve Jackson added: “I am pleased that we have been able to support Tile Mountain with funding for the new premises. The business is growing rapidly and the new facility is much better suited to the company's changing needs.”