Premium British sportswear brand Castore has secured new £ 145 million investment via a funding round led by Raine Partners, The Raine Group’s flagship growth equity fund, along with Hanaco Ventures and Felix Capital.
Castore’s efforts to “continue to disrupt the premium sportswear market and global team sports landscape” would be aided by the £ 145 million financing round.
It will enable Castore to continue to forge new partnerships with leading sports franchises around the world, supplying them with a broad selection of high-quality products while also giving them with data and tools to increase connection with their fans.
Furthermore, the funds raised will allow Castore to expand the breadth and reach of its mainline product line as it “continues on a path to become the UK’s leading sports and athleisure brand.”
Castore has collaborated with 50 franchises worldwide in football, rugby, cricket, tennis, and racing. The company is continuing to grow rapidly and is “on track to achieve record revenues and profits in 2023.”
Castore founder Tom Beahon said, “We are delighted to have secured the backing of highly reputable equity partners that will add significant value to all aspects of Castore’s business model – our team relationships, our sportswear brand and our omni-channel retail operations.”
Jason Schretter, Partner of The Raine Group, said, “Castore is an insurgent sportswear brand that sits at the intersection of sports, premium brands, data analytics and e-commerce. Raine and our fellow co-investors’ deep expertise across these industries helped us immediately understand the impact Castore can have on its clients.”
