Ooni lands £10M debt facility backed by UK Export Finance
What's the deal? Edinburgh-based cooking-products company OoniDealroom has a profile for this one. Try Dealroom → has secured £10 million in financing from HSBC UKDealroom has a profile for this one. Try Dealroom →, guaranteed by UK Export FinanceDealroom has a profile for this one. Try Dealroom → (UKEF), the government's export credit agency. The facility gives Ooni working capital to fund expansion across North America, Europe, Australia, and New Zealand.
The backstory: Founded in 2012 by Darina Garland and Kristian Tapaninaho, Ooni grew from a Kickstarter-funded startup into a global brand that says it has sold more than 2.5 million ovens. It employs over 230 people worldwide, including 167 in the UK.
What's new? The deal extends an existing HSBC credit facility from £6 million to £10 million. "Our 2025 profit growth gave our partners a clear vote of confidence in the strength of the Ooni brand and our strategic direction, despite persistent global market headwinds," said chief financial officer Andrew Brown.
Why now? The announcement coincided with UKEF's first Scotland Business Forum in Edinburgh on November 12, part of International Trade Week. The event brought Scottish exporters together with banks, government, and trade specialists to discuss access to growth finance.
What's the endgame? A debt facility, rather than equity, lets Ooni fund international growth while buffering volatile shipping costs. It previously ran a revolving credit facility to serve the same purpose. The company recently appointed Croud as its global media agency to push beyond performance marketing into a full-funnel strategy.
The signal: The round shows the capital demands behind scaling a global consumer-goods business against rivals such as Gozney. It also underscores UKEF's expanding role: over the last financial year, the agency provided more than £11 billion in loans, guarantees, and insurance, supporting up to 85,000 jobs.
Read more: europesays.com
Image credit: andrechinn
