Barclays has made a multi-million pound funding line available to Tusker and supported the company with significant asset finance facilities to allow it to fund the expansion of its vehicle fleet.
At the same time, Tusker has moved all its transactional banking arrangements over to Barclays.
This year, Tusker’s salary sacrifice product, SalarySacrifice4Cars (SS4C), has won a number of business and innovation awards, and was also shortlisted for the Orange Innovation Award at the recent National Business Awards.
David Brockwell, chief financial officer at Tusker, said: “We’re delighted that Barclays has recognised the genuine business and growth opportunity at Tusker and that they’ve joined the number of other new funders that we have attracted.
“We consider Barclays to be an integral part of our future and their thorough understanding of what we do and how we make a real difference in our market place has lead to a genuine desire and reason to do business together.”
Gareth Farbon, relationship director at Barclays, added: "Tusker is an excellent business that has carved a niche for itself in the vehicle leasing market with its innovative salary sacrifice product, SS4C.
"Our facility will allow Tusker to expand their vehicle fleet, which is key to them fulfilling their ambitious growth plans."