York-based online retailer Monster Group has secured a seven-figure funding package from HSBC UK to expand its product range and distribution facilities, as well as supporting job creation.
Operating from its York head office and distribution centres in North Lincolnshire and the Netherlands, Monster Group designs, sources, and retails own-brand products, which includes home furnishings and outdoor furniture.
Founded in 2007, Monster Group currently sells through over 100 e-commerce platforms, including its website, MonsterShop, and reported a growth in turnover from £15.1m to £17.1m for the year ended 31 March 2024. Pre-tax profit for the period resulted at £2.1m a growth from £1.4m.
With a focus on innovation and AI-driven growth, the company expects sales to rise by 10% in 2025. The expansion will increase its workforce to 95. The deal was supported by Jon Gilgrass, HSBC Global Trade & Receivables Finance.
Rana Harvey, Managing Director at Monster Group, said: “This substantial funding from HSBC UK allows us to expand our product range, enhance customer service, and grow our team. 2025 is set to be an incredible year for Monster, and we’re excited to achieve our ambitious sales targets.”
Stephen Smith, Relationship Director at HSBC UK, added: “Supporting a thriving UK business like Monster Group is exactly what we’re here for. This funding will help Monster expand across the UK and Europe, create jobs, and boost local economies. We’re proud to be part of its journey and look forward to celebrating its success in 2025.”
