Citrus-Lime secures multimillion-pound investment to grow business
Retail systems provider Citrus-Lime has secured a multimillion-pound investment from growth capital investor BGF for its next phase of expansion.
In a statement, Citrus-Lime said the investment will enable it to further develop its technology and accelerate its domestic and international growth plans.
Headquartered in Cumbria, Citrus-Lime provides an end-to-end cloud retail solution for independent retailers in the cycle sector, with its flagship platform, Cloud POS, integrating real-time in-store and online stock management, payments and customer data into one connected system.
Citrus-Lime added that the platform gives independent bike dealers (IBDs) the clarity and control they need to streamline operations, improve customer experience and drive profitability.
“Since launching Cloud POS, our focus has been to remove the everyday challenges that make trading harder, giving retailers the tools they need to work efficiently and confidently. The investment from BGF allows us to continue improving the technology and the support we provide to our customers while expanding our reach globally,” said Neil McQuillan, founder and CEO of Citrus-Lime.
Having built strong momentum across the UK, the United States, Europe and Australia, Citrus-Lime said it has become one of the industry’s leading electronic point of sale (EPOS) providers.
Looking ahead, Citrus-Lime will focus on further platform enhancements that make a difference on the shop floor by simplifying workflows, improving visibility and helping retailers grow.
“BGF’s backing means we can accelerate development, strengthen the support experience that underpins our success and bring the benefits of Cloud POS to even more retailers worldwide,” McQuillan explained.
Josh Bean, Investor at BGF, said: “Citrus-Lime is a standout business with a growing and increasingly international customer base. It is highly scalable and addresses a clear market need, positioning the business for significant growth. We’re backing an experienced leadership team and look forward to supporting Citrus-Lime as it enters its next phase of expansion.”
Citrus-Lime updated the Cloud POS ealier this year, rebuilding the platform from the ground up. The company rewrote every line of code to create a faster, more intuitive and more efficient system, adding that the revamp will help retailers cut back on admin and focus on running their businesses.
