Stock funding provider NextGear Capital UK has opened a new headquarters in Chester Business Park, following two years of growth.

The new HQ is more than double the size of the old one, at 11,500 square feet, and will house 65 staff. NextGear also has 28 field operatives based around the country.

Since opening in the UK in 2014, NextGear has funded more than £690m worth of vehicles, and has grown its customer base to almost 1,000 used vehicle dealers.

David Mercer, managing director of NextGear Capital UK said: “Our funding solution is helping dealers to capitalise on this strong consumer demand and is providing them with the means they need to help grow their business and stock more of those vehicles they know sell well.”

John Wick, chief strategy officer and general counsel at NextGear Capital US said: “The growth of the NextGear Capital UK business has been phenomenal, and part of that success has been driven by the speed at which we were able to start up in Chester and the opportunities that being based here have given us for our continued expansion.”