Hownd, which specialises in ethical pet grooming and feeding products, has secured a £250,000 investment in a bid to help expand its product range and enter new markets.
According to the group, the funding from Growth Lending will also enable it to increase its direct sales to customers, alongside sales through other retailers.
The company has so far been funded via equity fundraising, but the latest loan will support it in the run-up to its next funding round.
Founded by Mark Hirschel and Jo Amit in 2015, the Hertfordshire-based company has since provided cruelty-free and plant-based pet care. It was reportedly founded on the premise that “dogs can thrive without compromising the welfare of other animals if given products that are kind to the planet”.
The group has expanded recently, developing a new pipeline of products and recruiting experienced new members of staff.
Mark Hirschel, co-founder of Hownd, said: “We are excited to be working with Growth Lending to continue our growth and develop more cruelty-free products that will help us to expand into new and exciting markets.
“The team believes in our vision and understands our ambitious plan to be a leader in the emerging vegan pet product industry. We’re looking forward to building on this relationship and are grateful to Growth Lending for its continued support.”
Julian Hornby, principal at Growth Lending, added: “HOWND has made fantastic progress in the past few years and continues to make a mark in this growing market with its innovative pet food and grooming products.
“The coming year looks very exciting for the business, and we are delighted to have played a part in helping it to grow.”