PC gaming brand, Chillblast Group, has secured a new £3m investor loan facility as it targets revenue of £50m.
The fast-growing business has offices on Warrington and Bradford and specialises in high-performance consumer gaming PCs, working with everyone from gamers, creators to film-makers.
The loan brings Chillblast Group’s total investor backing to £10.5m, led by Arete Capital Partners, and follows a stellar first 12 months of trading, during which the business delivered £37m in revenue.
With a current revenue run rate of £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 £2.5m in Chillblast, said: “Over the years, I’ve 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’s seeing surging demand.
“The business has achieved an impressive first year, and I’m looking forward to helping guide the next stage of its journey.”
Chillblast chief executive Scott Brenchley said: “We’ve built real momentum in our first year, with strong performance across both consumer and enterprise channels.
“Securing 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.”