Collinson Group has secured a £350m revolving credit facility from a syndicate of five international banks, doubling its previous financing capacity and supporting a £500m investment programme over the next five years.

The privately owned travel, loyalty and insurance specialist said the financing followed a record financial year, with revenue reaching £2bn. The company has delivered compound annual growth of 17% over the past decade. The investment will support the continued expansion of its global airport lounge network and Priority Pass, alongside growth in insurance, technology, new products and markets, and its workforce.

The London-based group employs more than 2,500 people across 14 countries and reaches more than 500 million consumers globally. It also plans to continue contributing 5% of annual profits to the Collinson Foundation, which supports education, employment, entrepreneurship, innovation and crisis-response programmes.

Group managing director, David Evans, said: "Our record financial performance gives us a strong foundation from which to invest. This financing provides the flexibility to act decisively when opportunities arise - whether that means expanding our global lounge footprint, growing our insurance business, investing in technology or developing new products and services."

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