£13m funding package will underpin investment in staff, says Tactus
Tactus Group, the consumer technology business, has secured a £13m funding package from Santander UK as it gears up for its next phase of growth in the year ahead.
The growth funding is the Warrington-based company’s third funding round in 2021, having previously raised £40m from Chrysalis Investments in August and a £12.5m investment led by Arete Capital Partners in April.
Having grown the team 10-fold in 2021, the global technology group will use this financing package to invest in its people further. With the additional capital for growth, Tactus will also develop its technology platform and improve its operational capabilities.
With a growing portfolio of international networks to help offer better experiences, value and services to customers and investors, Tactus will also use the funding to support its expanding global supply chain and customer base.
This includes its recent partnership with German e-commerce platform Notesbooksbilliger (NBB), which saw the release of its series of premium finish Geo devices into the DACH market.
This latest announcement follows a string of major acquisitions made by Tactus in 2021.
Most recently, in November 2021, the company acquired multi award-winning PC gaming brand Chillblast, in addition to B2B IT hardware provider BIST and CCL, the PC gaming specialist, in April.
Scott Brenchley, CEO of Tactus, said: “As a scaling technology group, Tactus is committed to building a team of people who know the industry and move quickly to influence and transform our markets.
“We also recognise the need to drive innovation by consistently investing time, money, and ideas into developing the brands and platforms that we have created in order to revolutionise the way people buy and use tech.
“Ongoing support from partners and stakeholders is invaluable to making that a success, so this funding package from Santander UK will be crucial to the future of the business, and the people that make it.”
Charlotte Lees, director, strategic debt solutions, Santander UK, said: “Tactus has grown exponentially over the past two years, and we’re delighted to help fuel its next growth phase through this funding package. Both acquisitive and growing organically, Tactus has a global footprint that’s highly complementary to Santander UK’s own, making us the ideal funding partner, and we look forward to working together over the years to come.”
Phil Tarimo and Lynn Li from DSW Debt Advisory advised Tactus on the transaction, while Richard Capper and Beth Finnie from Hill Dickson provided legal advisory. Martin O’Shea and Claire Dyer of Addleshaw Goddard advised Santander UK on the deal.