A Manchester online children’s toy and games retailer has secured a seven-figure funding package from HSBC UK to support its growth plans.
BargainMax is to use the extra money to increase its product range and stock by over 60% in the next 12 months as well as create new jobs at its head office and warehouse.
The funding will also be used to increase brand awareness via targeted social media campaigns and support ongoing website development.
Managing director Gigi Mechlowitz said: "Being an online-only retailer, we were well-prepared when the pandemic started and could continue our two-to-four-day lead time on deliveries whilst experiencing a significant boost in demand.
"We will continue to deliver this quality of service through investments in new products and e-commerce solutions.
"Online retail businesses have experienced a lot over the last 12 months but we’re confident that our ambitious growth strategy will put us at the forefront of the toy sector."
Zubayr Atcha, corporate relationship director at HSBC, said: "BargainMax.co.uk has grown rapidly both domestically and in Europe and, in the last year.
"This funding enables the business to build on its impressive track record and will stand it in good stead within the world of online retailing."
BargainMax currently offers over 2,500 products for children aged 0 to 12, including brands such as Barbie, Lego, LOL Surprise & Paw Patrol.
The funding was allocated from HSBC UK’s national SME Fund.
