Bristol-headquartered e-scooter and e-bike specialist Pure Electric is gearing up for further expansion after securing a £10m finance facility.
The firm, founded in 2018 by entrepreneur Adam Norris, is one of Europe’s fastest growing e-bikes and e-scooter businesses and employs 284 people across its 17 UK stores, a number of which include demonstration, service and repair centres. 
It recently opened in eight cities in France and Spain and, following the agreement of the inventory finance facility from Secure Trust Bank Commercial Finance, is revving up for further growth in Europe.
Pure Electric approached Secure Trust for additional working capital to finance its ongoing expansion and following its openings in London, Edinburgh and Paris.
It is also continuing to widen and diversify its product offering with the addition of a second-generation line of e-scooters and a range of hybrid e-bikes.
Pure Electric CFO Stephen Marshall said: “At Pure, we’re here to revolutionise urban travel with differentiated products and services that benefit our riders and the planet, as we seek to reduce pollution, travel times and congestion in cities across the globe.
“Secure Trust Bank is now helping us to take that to the next level with this facility. The team worked flexibly and made the process straightforward and efficient.
“This working capital will enable us to expand our operational capabilities and make improvements to the Pure offering, allowing us to bring the reality of a cleaner, healthier future closer than ever before.”
Secure Trust Bank Commercial Finance regional sales director Matt Broomfield added: “Pure Electric is a growing international brand focussed on creating a better future using products that put the planet first.
“It has a strong management team with a passion for new, game-changing technology and has quickly become a market-leader.
“We worked closely with the management team to understand plans for the business in the years ahead and it was clear that continued product development was essential to growth. We were able to create a flexible facility at a key moment in the company’s growth journey, and we look forward to seeing their growth continue.”
The deal was introduced to Secure Trust Bank Commercial Finance by accountancy group EY. Laws firm Pinsent Masons advised on the deal.
