Online dog and cat wellbeing business, Paws Holdings, has announced a multi-million-pound investment round backed by high net-worth individuals and family offices to finance its “ambitious” growth strategy.
The group has raised more than £7m in a first round fundraise to achieve its aim to “become Europe’s number one dog and cat wellbeing business”. It will use the funds to help consolidate other online brands within the “very resilient and growing sector of pet parenting”.
The business currently operates in the UK and Continental Europe under the Pet-Supermarket.co.uk, PetMeds and Medicanimal.com brands
It is led by former Rowan Dartington Chairman and St James’s Place executive board director Graham Coxell. Following a career in financial services, he “turned his attention to a passion of his; the care and welfare of cats and dogs”.
Coxell said: “We know that becoming a pet parent to a dog or cat is good both for your mindset and emotional wellbeing. In these unprecedented times we feel there is a greater need than ever for pet parents to have a ‘best friend for life’ and a go-to place for all their pet wellbeing needs.
“We have a clear strategy laid out with this one purpose in mind and are already starting to deliver on it. We are clear that the market as it currently stands does not address the needs of pet lovers who see their dogs and cats as part of the family.”
He added: “Our customers believe their pets deserve the best care possible and we are going to help them provide it, so watch this space.”