Maplin Electronics, a UK-based specialist retailer of consumer electronics, raised £5m in funding.
The round was led by Rutland Partners with participation from Beringea.
The company intends to use the funds to increase sales, broaden its range of products and innovation.
Led by John Cleland, CEO, Maplin sells a broad range of products, including home electrical, audio equipment, DIY tools, computers, security equipment, batteries, components, specialised electronics for hobbyists and makers, and GPS devices, among other product categories.
The company, which operates more than 200 stores in the UK and Ireland, has a team of over 2000 technology experts. Customers can buy products in-store, by phone, online or through a catalog.
In 2013, Maplin launched its Click & Collect service, which allows online orders to be picked up in-store within 30 minutes of purchase.
FinSMEs
13/10/2014