Middletons raises £3.8m from the Development Bank of Wales and Wealth Club to expand retail stores
The funding will enable the mobility retailer to open new branches across Wales.
Middletons sells accessible furniture and mobility products through physical retail stores. The Newport-based business focuses on providing a personalised customer service.
Mobility and accessible furniture retailer Middletons has secured £3.8m in an equity funding round from the Development Bank of Wales and Wealth Club.
The Newport-based company plans to use the capital to open new retail stores across Wales, including in Cardiff, Swansea and Wrexham, with an ambition to expand its network to 22 branches.
Founded in 2013, Middletons offers products such as mobility scooters and tailored furniture, emphasising in-store product testing for elderly and infirm customers.
From the founder
"I was working in the mobility sector and saw that there was an opportunity to improve the mobility product experience for customers"
Ricky Towler
Managing Director at Middletons
Investor perspective
"Meeting Ricky and Tom we knew this was an exciting equity opportunity. Their passion for customer care and their vision for the business really impressed us"
Bethan Cousins
New Investments Director, Development Bank of Wales
Use of funds
- 01Expand into international markets
