A Liverpool company that appeared on the latest series of Dragons' Den earlier this year has secured a £100,000 investment.
Green Bell Packaging has received the additional funding from NPIF - BFS & MSIF Microfinance, which is managed by MSIF in partnership with GC Business Finance as part of the Northern Powerhouse Investment Fund.
The company, which was founded in 2018, creates plant based and 100% biodegradable and compostable packaging and is led by M Vahid Nagori and Thibault Denis.
READ MORE: Plant-based packaging firm to appear on Dragons' Den
M Vahid Nagori, who serves as the firm's CEO, said: "Protecting the planet is a key ethos of the business and a pillar from which it was built and founded. Plastic waste is among one of the biggest contributors to the deterioration of our land and marine life, with 79% of it ending up in the ocean or in landfills.
"It’s a really exciting time for us as a business. The company is expanding rapidly and in the last 12 months we have experienced a growth in sales.
"After introducing the first completely plant-based mailing bag to the UK market during lockdown in 2020, we have enjoyed further success with our most innovative product to date, the BioBag."
Sue Chambers, MSIF investment manager, added: "It has been great working with Vahid. He is passionate about reducing the use of single-use plastics and Green Bell’s biobag products are a game changer and have huge potential for a large number of different uses. I look forward to seeing continued growth over the coming years."
Sean Hutchinson of the British Business Bank said: "Green Bell is a great example of a business taking an innovative and sustainable approach to make a real difference within its industry and beyond.
"NPIF investments can support businesses like Green Bell placing them in strong positions to implement and expand sustainable goals even further.
"NPIF Microfinance is an effective tool to support companies looking to fund development projects or fill funding gaps for growth."
