Warrington Sports Backpack Firm Lands Major Funding Deal
Built For Athletes, a Warrington-based company specializing in high-performance backpacks for athletes, has successfully secured a substantial £1.025 million funding package from banking giant NatWest. This significant financial injection is earmarked to drive the firm's ambitious global growth strategy, enhance product development, and bolster its sustainability efforts.
Founding Vision and Brand Partnerships
The business was established in 2018 by entrepreneurial brothers Daniel and Nicholas Costello, who identified a gap in the market for premium backpacks tailored specifically for fitness enthusiasts and professional athletes. Their vision has since materialized into a respected brand that has forged partnerships with several high-profile international organizations.
Notable collaborations include:
- Williams Formula 1 racing team
- Red Bull Formula 1 racing team
- German football club Borussia Dortmund
- Fitness competition series Hyrox
Details of the NatWest Financing Package
The funding arrangement, negotiated through their company Functional Backpacks Ltd, comprises two key components: a £525,000 trade loan and £500,000 in invoice finance facilities. This comprehensive financial support will provide the capital necessary to execute multiple strategic initiatives simultaneously.
The company plans to allocate resources across three primary areas:
- International market expansion through targeted promotional content creation
- Research and development for new product lines
- Advancement of sustainability programs, building upon existing 100% recyclable packaging
Leadership Perspectives on the Strategic Partnership
Danny Costello, Chief Executive Officer of Built For Athletes, expressed enthusiasm about the new financial arrangement, stating: "This new finance facility with NatWest marks an important step forward as we execute the next phase of our growth strategy. The facility provides enhanced financial flexibility to invest confidently in product development, operational capability, and international expansion."
He further emphasized the value of the banking relationship, adding: "NatWest's clear commitment to our long-term vision and their willingness to support our ambitions reflects a depth of partnership we greatly value, one that will underpin continued, sustainable business growth."
Nathan Johnson, Senior Relationship Manager at NatWest, praised the company's trajectory, commenting: "Built For Athletes exemplifies the kind of innovative, high-growth business shaping the future of the UK's sports and retail sector. NatWest is proud to provide financial solutions and expertise to help them reach the next level."
This funding milestone represents a significant vote of confidence in the Warrington firm's business model and growth potential, positioning Built For Athletes for accelerated expansion in competitive global markets while maintaining its commitment to sustainable business practices.
