Endurance Vehicle Solutions secures £5m funding facility

Endurance Vehicle Solutions, a specialist vehicle hire and fleet management provider, is set to significantly expand its operations with a new £5 million asset finance credit line. The funding has been secured through a continued partnership with Shawbrook.

Since its inception in 2019, Endurance Vehicle Solutions has experienced substantial growth. Starting with a small team of just five employees, the company has evolved into a robust operation with over 50 staff members and a fleet exceeding 550 specialist waste, recycling, and drainage vehicles.

The new funding will support Endurance in expanding its fleet, particularly in the realm of the latest emissions standards i.e. Euro 7 and alternative fuels, aligning with the company’s commitment to sustainability and net zero goals. This investment will enhance Endurance’s ability to service inner-city clients with cleaner, more environmentally friendly vehicles, thus contributing to greener municipal fleets.

The initial partnership between Shawbrook and Endurance began five years ago when Shawbrook recognised the potential in Endurance’s experienced management team and its ambitious business plan. Initially providing a £1 million facility to support early growth, Shawbrook expanded this to £3 million in 2020 as Endurance continued to scale. The latest increase to £5 million is a testament to Endurance’s impressive growth and the strong partnership between Shawbrook and Endurance.

Omar Faramawi, head of external sales for asset finance at Shawbrook, said: “Endurance’s evolution from a small team to a 50 plus strong workforce with a proven track record of success is remarkable and we’re proud to have a played a small part in its success.

“We are delighted to continue our partnership and support its ongoing growth journey,” he added.

Neil Jeremiah, managing director of Endurance Vehicle Solutions, said: “Shawbrook has been with us every step of the way, understanding our business and providing the support we need for the long haul.

“Having a dedicated business development manager from Shawbrook has made a significant difference,” he noted.