How GapCap’s Supplier Finance product allowed Oteas to continue their international expansion
What Do Oteas Do?
Oteas are a UK based tea brand founded in 2014. The teas are manufactured with the highest quality leaves, herbs, flowers and spices and sold around the world.
Since inception, Oteas has grown at a considerable rate, now distributing in the UK and throughout Canada and the US. With a supply chain spread across the globe, Oteas wanted to ensure that the needs of their suppliers were met, whilst they also maintained their working capital.
GapCap have allowed Oteas to pay their suppliers across the globe in a timely manner whilst using the Supplier Finance facility to extend their working capital. Oteas are able to extend their payment terms by up to 90 days whilst having the ability to pay back early. With his supplier finance now taken care of – CEO David Evans is now able to focus on his mission of expanding Oteas across the globe.
GapCap have solidified our supply chain, helping our business tremendously.