Hut Group wins £5m from BoS
The e-commerce services providers wins the Entrepreneur Challenge
E-commerce service provider The Hut Group has won £5m of funding from the Bank of Scotland.
The company picked up the money at the North West and North Wales final of the bank’s annual Entrepreneur Challenge competition, designed to be a celebration of business talent. The company, which provides white label website services including ecommerce, web hosting and procurement to retailers, will use the funding to expand the number and the variety of the partnerships it has. Currently, The Hut provides services for major retailers such as Asda, DSGi Group and LOVEFiLM. Chief executive Matthew Moulding said: “We are absolutely delighted to have won the North West and North Wales final of the Entrepreneur Challenge and look forward to the national final in London. “We are extremely committed to providing retailers with high quality ecommerce and website solutions, and the funding will enable us to dedicate more resource to this area of our business. “I am truly excited about the growth opportunities ahead for The Hut and look forward to working with our team of technical experts to provide large retailers with the necessary online requirements.” The Hut Group will now go forward to the national final of the competition in London, which takes place in December. © Crimson Business Ltd. 2008