AURELIUS Finance Company provides growth capital to Entertainment Magpie to finance US expansion
AURELIUS Finance Company (“AFC”) has provided a comprehensive asset-based solution to Entertainment Magpie Limited, the parent company of musicMagpie (UK) and Decluttr (US).
Founded by Steve Oliver and Walter Gleeson in 2007 out of Steve’s garage, Entertainment Magpie is now one of the biggest e-commerce resellers of new and pre-owned electronics (mobile phones, tablets and laptops) and media in the world. The company is the world’s largest third-party seller on Amazon and eBay, and has won numerous industry awards including the Sunday Times Fastest Growth Companies.
To facilitate the next phase of the company’s strategy, Entertainment Magpie turned to AURELIUS Finance Company as a funder who shared its vision, and who could maximize an international inventory facility both in the UK and US, as well as a partner who could match its growth ambitions.
Entertainment Magpie CEO, Steve Oliver said: “We have ambitious plans when it comes to accelerating the growth of our international business, and the investment from AURELIUS will provide the financial backing to enable us to execute our strategy effectively.
“AURELIUS has provided us with a flexible solution that is commercially sound, but at the same time realistic and deliverable, and we are looking forward to working the team to help us take our business to the next level.”
Karun Dhir, Managing Director of AURELIUS Finance Company said: “We are excited to support Steve and the team, and fund a very exciting and fast-growing UK business and providing the much-needed capital to fund their international expansion.”