Silicon Valley Bank has recently announced that it would fund £2 million to Icelolly, UK’s one of the most significant holiday sites. Icelolly works as a platform for comparison amongst multiple holiday options.
The new funding is most likely to be channeled for increased support on sales and marketing. The prime focus of the new funding will be towards the enhancement of brand awareness of Icelolly amongst its target customers through both online and offline modes. Icelolly is also expecting to expand its team, and it may re-strategize its marketing efforts after its new hiring of Simon Lloyd on the role of CMO (Chief Marketing Officer).
The SVB UK has been engaged in many more ventures in the U.K. The fresh funding promises of bringing SVB’s commitment to the North of England a step further. It should be noted that the North of England is well known for innovations pertaining to diverse fields, and SVB UK has been aiming to become one of the most crucial financial partners in this region.
When asked about the funding, Icelolly CEO Richard Singer said, “Silicon Valley Bank has supported our growth plans and vision, and we are pleased to announce this facility today to help make Icelolly the best-loved brand for UK holidaymakers.”
Richard Faulkner, Managing Director at Silicon Valley Bank’s UK Branch, said that the association with Icelolly was valued and they felt fortunate enough to be able to assist them in their growth and brand recognition. He also added that SVB UK is looking forward to many more future partnerships with Icelolly.