XUM secures £700,000 CBILS funding from Santander

Funding | South East | Technology

Founder of XUM

XUM a wholesale memory ram sellers in the UK has secures CBILS funding from Santander UK.

The business sources IC-chips from recycling centres and refurbishes them for use in computing and gaming products. Set up in 2012, the business can take any component that has gigabytes, for instance routers, televisions, and computers, and recycle them into new electronic storage devices with Memory Ram and SSDs. Their products are used by trade, gamers, and e-sports athletes.

The business had 11 employees at the start of 2020. However, growing demand was hard to keep up with so they turned to new banking partner Santander and the team has supported XUM in two keyways. Firstly, to help the business cope with supply chain disruption, Santander facilitated a £737k Coronavirus Business Interruption Loan (CBIL). Secondly, the business is using Santander’s Trade Portal to source new international suppliers in USA and Europe.

Dr Alireza Bahraminasab, founder and director of XUM Enterprise, said: “This is a very exciting time for XUM and Santander’s support has been integral to our growth. Aside from the funding, we’ve found new suppliers through Santander’s Trade Portal which has helped us to overcome the challenges of sourcing raw materials.”

Nathan Moult, Relationship Director at Santander UK said: “We’re very excited to be working with XUM, it’s a fantastic business that prioritises its environmental impact and produces great products. It’s great to see how the team has embraced our Trade Portal to find new suppliers and we look forward to supporting their continued growth long into the future.”

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