Auriga Holdings, one of the longest-serving KFC franchisees in the UK, has secured a new £13.95m debt facility from Metro Bank, as it eyes further expansion.

London-based Auriga operates a range of coffee and fast-food outlets, with c25 KFC sites and 500 employees

The funds will be used by the group, which is led by managing director Afnan Bashir, to further invest in its estate, with plans to open more sites within the M25 over the coming years.

The company also operates a c10-strong estate of Costa sites across the Midlands.

The new funding packing marks Metro Bank’s largest franchise loan to date.

Mark Stokes, managing director – Commercial Banking, at Metro Bank said: “This deal is particularly exciting for us as it marks Metro Bank’s largest loan package in the franchise sector to date. Our expert knowledge and personal approach enabled us to create a funding solution that will support Auriga’s existing debt and working capital. We look forward to working closely with the management team in delivering projected plans and continued success.”

Bashir said: “We are delighted with the prospect of working with Metro Bank to facilitate our growth over the coming years. They have been very supportive throughout our banking migration process, and their dynamic and proactive approach to lending will be critical in our future plans.”