Loan adds to lustre of bohemian jewellery brand

Popular bohemian jewellery brand, ChloBo has received a £75,000 investment to fund further expansion and the launch of its first fragrance.

The cash injection is from NPIF, backed by CBILS, through BFS & MSIF Microfinance, managed by Alliance Fund Managers – MSIF’s fund manager subsidiary – in partnership with GC Business Finance, as part of the Northern Powerhouse Investment Fund.

With headquarters situated in Chester Business Park, ChloBo was founded as the original ‘stacking’ brand of jewellery, inspired by travel and freedom.

All pieces are curated and designed in the UK and are made from a mix of metals including solid sterling silver and rose gold and gold-plated versions.

Trading both independently online, and through a trusted network of more than 200 retail partners, ChloBo has gained a growing following since its launch in 2011.

Due to the additional £75,000-worth of investment delivered by MSIF, ChloBo now has the opportunity to continue to grow and thrive throughout the impacts of the coronavirus pandemic – helping to provide job security, in addition to supporting the launch of the company’s first fragrance, ‘Happy Soul’.

ChloBo chief executive, Dave Rosalski, said: “This is the second time we have worked with MSIF for funding.

“They have developed a very good knowledge of our business, which helps them fully understand our needs and to support us.

“It has been easy and straightforward working with the MSIF team again.”

Jim Moore, MSIF investment manager, said: “It has been a pleasure to work again with the team at ChloBo. They have a strong product and brand presence which continues to grow year-on-year.

“MSIF are pleased to be able to support the team with additional working capital to help navigate through the challenges of this year.

“I look forward to supporting more businesses who are continuing to grow during this time.”

Sue Barnard, senior manager at British Business Bank, said: “This investment exemplifies the work that NPIF is doing across the North of England.

“By supporting businesses with the funds to thrive and grow post-pandemic, we are creating a more prosperous regional economy for the future, and, in turn, helping to reduce the historic regional disparities between the North and the South.”