PC gaming brand, Chillblast Group, has secured a new 拢3m investor loan facility as it targets revenue of 拢50m.
The fast-growing business has offices on Warrington and Bradford and specialises in high-performance consumer gaming PCs, 聽working with everyone from gamers, creators to film-makers.
The loan brings Chillblast Group’s total investor backing to 拢10.5m, led by Arete Capital Partners, and follows a stellar first 12 months of trading, during which the business delivered 拢37m in revenue.
With a current revenue run rate of 拢50m, Chillblast is forecasting an additional 35 per cent growth this year and is on track to exceed its sales target.
The milestone comes alongside the appointment of Peter Cowgill, former executive chairman of JD Sports, as non-executive chairman of the group.
Cowgill, who has also made a personal investment of 拢2.5m in Chillblast, said: “Over the years, I鈥檝e identified the characteristics needed for success in consumer businesses. Chillblast has demonstrated many of these traits – high-quality products, a strong leadership team, and a market that鈥檚 seeing surging demand.
鈥淭he business has achieved an impressive first year, and I鈥檓 looking forward to helping guide the next stage of its journey.”
Chillblast chief executive Scott Brenchley said: “We鈥檝e built real momentum in our first year, with strong performance across both consumer and enterprise channels.
鈥淪ecuring this additional funding and welcoming Peter to the board sets us up for the next phase of growth. His experience and insight into scaling consumer-facing businesses will be invaluable as we continue to innovate and expand.”