MicksGarage.com have announced the completion of a €1.5 million funding round to support further growth in the UK market.
This latest fundraising for the Irish owned e-commerce business which provides car parts and accessories to both do-it-yourself motoring enthusiasts and garages was founded by brothers Ciaran and Michael Crean.
The €1.5 million investment secured by MicksGarage.com was raised by Investec Wealth & Investment through the Employment and Investment Incentive Scheme (“EIIS”), a scheme designed to allow investors a tax efficient method of supporting the development of Irish Small & Medium Sized Enterprises. Qualifying investors can claim a deduction from their total income and, in the case of a €50,000 investment, could result in tax relief of up to €20,000 or 40%.
MicksGarage.com remains one of the most successful Irish businesses to have exploited the potential of selling products exclusively via an online channel.
The investment secured will support major development plans including extending its own exclusive range of branded products along with establishing a new distribution centre in the UK as it continues to expand in that market.