York online retailer plans European growth after seven-figure funding boost
A York-based online retailer of business, household and specialist products has secured a seven-figure funding package from HSBC UK.
The business, which was founded in 2007 by former analytical chemist Rana Harvey, has grown significantly in recent years and now trades nationally and internationally from premises in York and Scunthorpe.
It sells a diverse range of products from kitchen and gardening items to commercial equipment.
The company now plans to the range and quantity of its stock - which is mainly imported from the Far East - by up to 110%, increase turnover by 40% and create six new jobs over the next year.
Rana Harvey, managing director of Monster Group, concluded: “We’ve been steadily growing our sales in Europe for a number of years and invested heavily in our distribution operations.
“This, coupled with HSBC UK’s backing, means we’re in an ideal position to dramatically ramp up our offer to customers in Europe. Monster Group is an international business and it is encouraging to share the same values with our bank.”
Monster Group is focusing on expanding sales in France, Germany, Spain, Italy and the Netherlands.
Stephen Smith (pictured above with Rana Harvey), HSBC UK’s relationship manager for North & West Yorkshire, said: “We have worked with Monster Group for over a decade and seen it grow from a small startup to the booming business it is today, so we’re delighted to be able to support the next stage in the company’s expansion.
“We look forward to seeing the business grow and successfully trade both nationally and internationally.”