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Client spotlight: Giving Huel the fuel to reach the next level
Huel is a disruptive, fast-growing nutrition brand aiming to change the way people think about food. Find out how HSBC Innovation Banking is helping them reach their ambitions.
About Huel: Nutrition for a fast-paced world
In an ideal world everyone would grow their own vegetables and cook their own meals. However, modern life doesn't allow for that. That's where Huel comes in. Huel provides convenient nutrition for time-poor, health conscious people.
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Huel is one of the UK's fastest-growing nutrition brands and looks to solve some of the biggest challenges when cooking food: time, waste and affordability - all while delivering a high-quality product. Huel’s nutritionally-complete meal replacements are part of a healthy, balanced lifestyle - plus they’re quick to prepare and 100% vegan.
At the heart of Huel is an innovative idea and an obsession with helping its devoted customers (or Hueligans, as they're known). David Di Cello, CFO at Huel mentioned that the company is prepared to take calculated risks in order to grow, while they have a strong set of values that everyone within the business lives and breathes. This customer focus matches our client centric philosophy.
A personal approach to help Huel scale
What I've really valued working with the team at HSBC Innovation is their professionalism [and that] they're always available when you need them. I love the fact they challenge us and provide us with ideas and inspiration for some of the challenges that we're trying to overcome.
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Huel partnered with HSBC Innovation Banking (HINV) in 2018, when they were still in their early stages. We've been by the company's side ever since and are proud to support their ambitious goals. Since joining HINV, Huel has grown from a turnover of around £50 million a year to almost five times that - testament to their ambition.
As well as day-to-day banking solutions, we provide a revolving credit facility that allows Huel to continue scaling their operations. But it’s about more than just banking. Our team of specialists are always there to help Huel navigate new opportunities, offering advice and direction for whatever situation Huel needs assistance with.
What the future holds for Huel
The relationship between a business and its bank, I think, is incredibly important. We have a long-standing relationship that's built on trust. What we need is a bank that can support us as we grow.
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One of the biggest challenges for any brand looking to scale up is trying to predict the future.
It’s no surprise that Huel has big plans, which may take them into uncharted territory. We are delighted that we will be able to partner with Huel on that journey and to help them take the next steps in growth.