Built For Athletes lands £200K loan from River Capital to fuel expansion
What's the deal? Built For AthletesDealroom has a profile for this one. Try Dealroom →, a Warrington-based maker of backpacks and fitness accessories, has secured a £200,000 loan from River CapitalDealroom has a profile for this one. Try Dealroom →. The investment is funded through the North West Business Growth Loan Fund.
What's the endgame? The money will support the company's expansion plans and fund several new jobs over the next three years. Built For Athletes is forecasting growth across its direct-to-consumer and wholesale divisions through to 2029.
Founded in 2018 by brothers Daniel and Nicholas Costello, the business — trading as Functional Backpacks Ltd — makes design-protected backpacks aimed at fitness enthusiasts. It has partnerships with Atlassian Williams Formula One, British Taekwondo, Loughborough University Sport, and Alpine Formula One.
Why now? River Capital first backed the business in October 2022 through its Merseyside Loan and Equity Fund. The company says this latest deal gives it a more structured, cost-effective funding platform as it scales.
The round follows the appointment of Matt Rogan as non-executive director. Rogan is a sports marketing specialist and founder of the agency Two Circles.
Built For Athletes also recently secured a six-figure trade finance facility from NatWestDealroom has a profile for this one. Try Dealroom →, replacing a previous working capital arrangement.
"River Capital has been with us since the early days, and this latest investment is a reflection of how far we've come as a business," said Danny Costello, chief executive of Built For Athletes. "This funding gives us the platform to keep pushing, grow our team, and take the business to the next level."
The signal: Regional loan funds continue to back consumer brands with global ambitions, offering debt finance as an alternative to equity for scaleups looking to grow without diluting ownership.
Read more: Insider Media
