Belfast-based plastic-free beauty brand ‘We Are Paradoxx’ units sights on additional worldwide progress and growthWe Are Paradoxx, a Belfast-based sustainable, plastic-free hair and physique care brand, has secured new funding to develop its export functionality into new markets within the US, Canada, Russia, Australia and the Middle East.The Belfast City Centre start-up, based in 2018 by Yolanda Cooper, has developed a hair and bodycare vary which is plastic-free, makes use of pure and natural vegan elements and is cruelty-free. The firm has additionally developed the patent pending Supernova, the world’s first 3-in-1 straightener, wand and tong.Sign as much as our each day publicationThe i publication lower by means of the noiseNigel Birney, head of Trade Credit, Lockton, with Yolanda Cooper, founder and CE, We Are Paradoxx and Judith Totten, managing director, Upstream Working CapitalWe Are Paradoxx has been profitable in elevating funding up up to now, hitting £3m earlier this 12 months by means of numerous funding rounds. However, this newest funding, supplied by native financiers, Upstream Working Capital, will allow the beauty firm to develop into new markets and additional its progress internationally. The finance has been underpinned by credit score insurance coverage organized by means of the brand new commerce credit score insurance coverage staff at Lockton, which partnered with insurer Atradius.Yolanda Cooper, founder and CE of We Are Paradoxx, stated: “This newest funding is a big step for We Are Paradoxx and can assist us acquire a foothold in massive worldwide markets. As an organization, we’re devoted to innovation and sustainability. Access to working capital like that is important as we search to innovate, develop, and improve our product traces. We have a transparent imaginative and prescient for the corporate and the way we intention to go from the start-up section to the scale-up section and entry to capital is completely essential on this imaginative and prescient.“Having a commerce credit score insurance coverage coverage in place additionally offers us higher confidence as we enter new international markets and develop our worldwide buying and selling. We are excited for the long run and dealing with Upstream and Lockton offers us an actual boost as we hold increasing and innovating.”Judith Totten, managing director, Upstream Working Capital, continued: “Upstream Working Capital is proud to be working with We Are Paradoxx, a locally-based start-up which is really innovating and doing issues otherwise in its subject. Coming out of the pandemic, it’s the corporations and entrepreneurs taking these leaps of religion, and people who search new markets and clients, that can spearhead our financial rebuild. Companies like We Are Paradoxx want entry to working capital to interrupt into new markets and discover new clients past our personal shores. We are happy to supply each provide chain funding and Invoice Finance to assist the working capital wants of We are Paradoxx. It is each a pleasure and a privilege to work carefully with Yolanda and her staff as they embark on this vital journey.”Nigel Birney, head of Trade Credit, Lockton, defined: “It’s wonderful to see Northern Irish corporations and start-ups like We Are Paradoxx, who we’re thrilled to companion with, increasing into new export markets. The pandemic has been extraordinarily robust for entrepreneurs and younger corporations so it’s constructive to see companies have the braveness to look in direction of new markets. As effectively as offering entry to working capital, having credit score insurance coverage in place will allow We Are Paradoxx to entry important market intelligence by means of their coverage supplier Atradius, which can allow them to commerce with confidence in new export markets all over the world and develop gross sales safely understanding that ought to certainly one of their clients default in fee their monetary loss might be nearly nullified.”Andrew McBurney, Commercial Manager, Atradius, added: “Through our companions Lockton, we’re happy to be working carefully with We Are Paradoxx as the corporate expands into new markets and trades with new clients. We are assured that our commerce credit score insurance coverage will considerably bolster We Are Paradoxx’s buying and selling capability and assets and defend the corporate as they step into new markets each by paying out claims within the occasion of non-payment but additionally by offering entry to real-time intelligence on new markets and particular person patrons, creating alternatives for progress.”A message from the Editor:Thank you for studying this story on our web site. While I’ve your consideration, I even have an vital request to make of you.In order for us to proceed to supply top quality and trusted native information on this free-to-read web site, I’m asking you to additionally please buy a replica of our newspaper every time you’ll be able to achieve this.Our journalists are extremely educated and our content material is independently regulated by IPSO to among the most rigorous requirements on the earth. But being your eyes and ears comes at a worth. 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Belfast-based plastic-free beauty brand secures £250k funding boost
