Insurance Age

Besso to pursue growth with Clydesdale Bank funding

Bag of money
    • Larry Ferguson

    • Indicative reading time: 1 minute

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Broker says it worked closely with shareholders in considering options.

Lloyd's broker Besso has secured funding from Clydesdale Bank to support its growth strategy.

The business said it has grown substantially from a revenue of £22m in 2011 to the current forecast of £37m for 2015 and over £6m of underlying Ebitda.

Robert Dowman, joint chief executive officer of Besso, said: "We worked closely with our shareholders in considering our options for enhancing our capital structure.

"Our decision was to repay the shareholder loan to BP Marsh. This funding support from

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