Edinburgh car leasing specialist to target electric car revolution with £1m investment

Pike + Bambridge, the Edinburgh-based car leasing specialist, is looking to help more people make the switch to electric and hybrid vehicles with a £1 million investment to drive further growth across the UK.

The firm has already built up a 2,000-strong client base which includes the likes of Brodies, French Duncan, the Faculty of Advocates, Hibs FC, Aberdeen FC, and scores of sports stars including Ian Wright and Andy Nicol. With a first £500,000 tranche secured exclusively from clients in December, Pike + Bambridge has now embarked on the second tranche of its £1m investment target. It expects to close the funding round during the second quarter of this year.

The company, which operates nationwide and is built primarily on a referral model, grew revenue to £3.7m in 2022, while expanding its headcount to 16 at its Edinburgh, Aberdeen and London hubs.

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Chief executive Piers Bambridge said: “Our longer term growth strategy centres on a typical client passing us one extra client every year. With an agile and customer-focused team, we are able to offer a much more personal service than larger dealerships, and our next phase of growth will see us up headcount and continue expansion across the UK. We opened a London hub last summer, and that’s helped us make inroads in south-east England.”

The firm also plans to launch a fintech platform this year which will aggregate pricing from more than two dozen car manufacturers and seven banks, which the company says will enable clients to see live pricing and automated finance decisions.

Bambridge said the adoption of electric vehicles (EVs) is the primary driver in the market, and the majority of corporate clients have signed up to the salary sacrifice scheme product. He added: “It is clear electric vehicles are here to stay, with autonomous technology just around the corner, so as an industry we need to do a better job of educating people around the perceived challenges, like charge points for example when we’re talking about EVs. There is a lot of misinformation around. We need to cut through that and present the facts in a clearer fashion.”

Jack Ogston, Emma Blyth and Piers Bambridge of Pike + Bambridge. Picture: Mark Jackson

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