Home furnishings business Esselle Retail Limited has secured a £2.5m asset-based lending facility from Cynergy Business Finance.

Esselle, which is based in Altrincham, Greater Manchester, and specialises in rugs and decorative throws, said that the funding will help support its recent acquisition of wallpaper and wall art business Arthouse, as well as supporting its continued growth.

Cynergy Business Finance worked closely with the businesses management team to provide a flexible invoice discounting facility in order to free up the additional working capital.

Commenting on the facility, Esselle said: “This new facility provides us with the additional funding we need to continue on our growth journey. The Cynergy team have been great to work with. By bringing such a breadth of experience, the team were able to create a bespoke facility that aligned with our growth plans and provided the flexibility we required.”