Search British Business Bank
Popular Search placeholder

River Capital invests in sustainability business with £100k loan

Press release 18 December 2024

River Capital has provided a £100,000 loan to Green Bell Packaging Limited through NPIF II – River Capital & GC Business Finance Smaller Loans, which is managed by River Capital & GC Business Finance as part of the Northern Powerhouse Investment Fund II.

Portrait of the team from Green Bell Packaging

The cash injection will provide the Liverpool-based sustainable packaging distributor with the working capital to fulfil larger orders and increase its employee headcount, creating five new employees in Liverpool.

Green Bell Packaging will also use the funding to scale up the business and nvest heavily in its marketing, enabling the business to capitalise on a growing demand for plastic-free food packaging, driven by new regulations.

This investment marks the second round of funding provided by River Capital to the business, following an initial £100,000 investment in November 2021 from the first Northern Powerhouse Investment Fund.I.

Having initially established the business in 2018 to serve UK retailers shifting away from plastic bags, managing director, Vahid Nagori, and his team established a strong customer base for eco-friendly bags during the pandemic before diversifying into food packaging in 2022.

The business now supplies cafes, restaurants, bakeries and chains with a wide range of sustainable products with major customers including Middlewich Food Trays, Lola Cupcakes, Morplan and German Doner Kebab.

Upcoming plans include a company rebranding, a new e-commerce website, catalogues, trade show attendance and digital advertising.

Sue Chambers, Investment Manager at River Capital said on the investment: 

Vahid has demonstrated great resilience and ability to adapt to changing market conditions over the past three years.

Having seen Green Bell's progress, including timely repayment of the initial loan and operational improvements, we are delighted to extend this second facility. The NPIF II funding will support Vahid's growth plans and continued profitability.

Vahid Nagori commented on the latest funding round from River Capital and said:

We are grateful for River Capital's ongoing support, which has been instrumental in helping us navigate challenges and pursue new opportunities

This additional funding will accelerate our plans to become a leading provider of eco-friendly food packaging across the UK. We look forward to making key hires, ramping up our marketing efforts and delivering unmatched service to our valued clients.

Sue Barnard, senior manager at the British Business Bank, said: 

We have seen huge growth in the number of eco-conscious consumers in recent years, with individuals aware now more than ever of their impact on the planet. Investing in sustainable business is a key pillar of NPIF II so it is great to see this loan take place, adding jobs to the region as well as promoting more products.

The £660m Northern Powerhouse Investment Fund II covers the entire North and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

Further Information

If you are a journalist and have a media enquiry, please contact [email protected].

Notes to editors

About the Northern Powerhouse Investment Fund II

  • Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding.  NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the South West’s smaller businesses at all stages of their development. 
  • The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, City of Kingston upon Hull, East Riding of Yorkshire, North Yorkshire, South Yorkshire, West Yorkshire, Hartlepool and Stockton-on-Tees, South Teesside, Darlington, Durham, Northumberland, Tyneside, Sunderland.     
  • Supported by Nations and Regions Investments Limited, a subsidiary of British Business Bank plc, the Bank is a development bank wholly owned by HM Government. Neither Nations and Regions Investments Limited nor British Business Bank plc are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA).

Quick links

Latest news