Jealous Sweets vegan treats are also free from gluten, artificial colours, flavours and preservatives.

Vegan gummy bear maker Jealous Sweets is targeting £4m turnover next year after securing working capital from Lloyds Bank helped to boost sales and international expansion.

The London-based confectionery business – stocked in Harrods, Wholefoods and Harvey Nichols among others – received £80k from Lloyds in February, with the funds used to double revenues by growing listings across Europe and the Asia Pacific region.

By December 2019, Jealous Sweets expects turnover of £1.5m, with sales rocketing to £4m in 2020 as the company moved away from a lifestyle gifting business to a fmcg supplier.

The company’s latest accounts filed at Companies House showed sales of £172k and pre-tax losses of £28k in the year ended 30 September 2017.

“The business had a massive shift, previously it was a gifting lifestyle business and now it is an fmcg brand,” co-founder Imran Merza said.

“Previous results do not reflect the shift. The growth has just accelerated very fast to the point that we are treating this almost as a new business. We have launched new products that are different from everything we have ever done, and the volumes have massively accelerated.”

Lloyds has pledged to support mid-size London firms, with the bank lending a total of £2.6bn so far this year.

Lloyd’s associate director Keith Breavington said: “Jealous Sweets already has an excellent reputation in the UK, but to push forward with the next phase of its expansion, it needed the correct funding in place.

“The support we’ve provided Jealous Sweets will help the company to fulfil its growth aspirations and drive the business forward, without impacting day-to-day cashflow.”

The facility allowed Jealous Sweets to fulfil new large orders from major UK retailers, including Asda and Holland and Barrett. 

Outside of Europe, the brand secured listings in Hong Kong-based health & beauty retailer Mannings and supermarket chain Wellcome. It is also getting ready to launch into Saudi Arabia, Australia and Japan.

Co-founder Taz Basunia added: “As well as expanding our client base on home turf, we’ve also been able to pursue exciting opportunities overseas - allowing us to fulfil new orders that we simply couldn’t have done before.”

Jealous Sweets was founded in 2010 by Merza and friend Basunia, with a range of vegan treats. The jellies are also free from gluten, artificial colours, flavours and preservatives.