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GB Bank secures £85m investment from Hera Holdings and Teesside Pension Fund for extensive growth

May 21, 2024•about 1 year ago

Amount Raised

£85 Million

MiddlesbroughBankingFinancial Services

Investors

Teesside Pension FundHera Holdings

Description

UK-based GB Bank has secured an £85 million investment from new backer Hera Holdings and existing shareholder the Teesside Pension Fund. Over the next 12 months, Hera Holdings will invest an initial £40 million into the bank, with an additional £40 million earmarked for investment throughout 2025 and 2026. The investment is expected to drive extensive growth for the company, allowing it to expand its customer base and increase its lending capabilities.

Company Information

Company

GB Bank

Location

Middlesbrough, England, United Kingdom

About

GB Bank is one of the UK's newest bank. We are a bank with a purpose and a bank on a mission - to build better future for communities across the UK that need it most. GB Bank is fully authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. We provide property development finance solutions up to £10m, supporting SME regional property developers and investors across the underserved regions of the UK. Utilising regional knowledge and passion to regenerate and build communities in areas that need it most. Our competitive savings products support the residential and commercial developments. So, whilst your money is working hard for your wallet, it’s also working hard for your community. For further information, drop us a note at info@thegbb.co.uk or visit our website gbbank.co.uk

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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