Dartford's Caterham Cars secures £1.15m funding from Santander

An iconic sport car brand has secured more than £1 million in funding to support its push into international markets.

Dartford-based Caterham Cars, which manufactures the popular lightweight sports cars, has secured £1.15m from Santander Corporate & Commercial.

It comes as part of a deal which will see Santander become the firm's new banking partner with hopes of further funding to support future growth.

Caterham Seven range (3729642)
Caterham Seven range (3729642)

Already exporting to countries including the US, France, Germany, Japan and Switzerland, it will use the money to invest both in those existing markets but also to the likes of Taiwan and Colombia.

Originally established in Caterham, Surrey, in 1959 by Anthony Colin Bruce Chapman, the business has been located in Dartford since 1986, supported by a showroom in Crawley.

It now has franchised dealerships in the UK and across Europe.

Caterham Seven range (3729644)
Caterham Seven range (3729644)

Trevor Steel, chief financial officer at Caterham Cars, said: “The business continues to grow, both in the UK and overseas, and we are focused on capitalising on this strong demand.

"We have a loyal customer base who recognise and value the cars for their engineering excellence, classic design and driving experience."

Jeff Clark, international and working capital director at Santander said: “We are delighted to be supporting this quintessential UK manufacturer as it invests for growth. It is clear the management team has very exciting plans for the business, and we are honoured to be able to help them expand internationally.”

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