Capital facility to turn up audio firm’s growth

A Glasgow-based high- end loud speaker specialist has secured a funding line nearing seven figures as it prepares to launch new ranges and grow in overseas markets.

Fy ne Audio has arranged the £850,000 facility with Bibby Financial Services, part of £1 billion global organisation Bibby Line Group. It includes export invoice discounting and a foreign exchange facility, which will help the business access working capital and fund its export debts to reach its growing international client base.

Fyne, created by former Tannoy workers, is set to launch three high-performance loudspeaker ranges, with products ranging from £200 to £24,000, and has pre-orders coming in from as far as in Asia.

MD AndrzejSos na said: “Having the exp or t finance team to support with our transactions takes away the administrative hassle of prompt debtor payments in multiple currencies, allowing us to focus on growth.”