Dublin-based MicksGarage.com raises €1.5m to help expand business in UK market
The online car parts retailer MicksGarage.com has raised an extra €1.5m in private funding to help push its business in the UK market.
The Dublin-based company, founded by Mayo brothers Ciaran and Michael Crean, has now raised over €4m in private capital since its first fundraising round in 2009.
It has annual revenues of over €11m and recently opened a distribution centre in Poland. It delivers over 1,000 products per day.
The €1.5m was raised by Investec Wealth & Investment through the Employment and Investment Incentive Scheme.
“MicksGarage.com is one of the truly great Irish e-commerce success stories and a tremendous example of entrepreneurial spirit harnessing the power of an online channel to build a business of scale that can be replicated in markets beyond these shores," Nigel Poynton, Investec Wealth & Investment said.
"As a business it has demonstrated at each stage of its development the ability to grow significantly and the prospects for growth remain strong, in particular as it moves to larger markets with greater scope to build an international business of scale.”