13th August 2020
Jennifer Young Ltd to expand product and service offerings to cancer patients as a result of cash injection.
Located in Newcastle-under-Lyme, Jennifer Young Ltd, the cosmetics and skin care company, has received new investment from the Midlands Engine Investment Fund (MEIF) West Midlands Equity Fund, managed by Birmingham-based venture capital business Midven.
Jennifer Young Ltd has developed a range of products, with particular emphasis on skin care for those living with cancer. The firm is set to use the funding to grow its existing sales channels and expand its offering to international markets.
The company will also be using the investment to build its team and marketing function.
Jennifer Young, founder and managing director of the business, has over 25 years of experience working in the healthcare sector. After being introduced to her local hospital’s chemotherapy ward, Young developed a range of specialist cosmetics for those going through cancer treatment.
With support from the NHS, Young formulated natural products to help combat the side-effects of cancer treatments that impact the skin. She also founded The Jennifer Young Training School which offers qualifications in massage, facials, reflexology, aromatherapy and sleep therapy treatments for patients.
Jennifer Young, Founder and Managing Director at Jennifer Young, says: “As a business, we aim to support as many people receiving cancer treatment as possible. The funding we’ve received from the MEIF will allow us to continue to enhance the quality of life for those we work with and produce more quality products that can help them feel a sense of joy during an unimaginably difficult time. We look forward to working towards our goals with Midven’s helping hand and expanding the Jennifer Young team and its products internationally.”
Giovanni Finocchio, Investment Director at Midven, says: "It was clear when we first met Jennifer that she was both very knowledgeable and extremely passionate about the people her company serves. On discussing her business plans and vision, we immediately recognised the product and service gap that she was trying to fulfil. We bought into her vision and made the investment and are confident the company will become one of the great growth stories of the region. We look forward to working with the team.”
Grant Peggie, Director at the British Business Bank, said: “The MEIF was set up to improve the finance landscape for small growing businesses across the Midlands. This latest investment in Jennifer Young is allowing the firm to expand its offering, enter new markets and recruit staff. We would encourage other smaller businesses within Stoke and Staffordshire to discuss with the MEIF fund managers the various funding options available to them.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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