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Funding boost for giant product replicas business
Posted by Simon Malia on 17 Aug 2015
Big boost for giant product replicas business A Stockport firm that makes lifelike oversize replicas of products as received a £500,000 funding boost from Access Commercial Finance.
Used in high-street marketing, StackaWraps are 3D replicas of products replicas such as giant beer glasses, aftershave bottles and even pairs of jeans.
The brainchild of Richard Peter, who realised that there was a gap in the market for portable, realistic recreations, StackaWraps are designed to be to be flat packed, so that they can fit in the boot of a car.
Mr Peter has patented his unique slot and stack system.
He said: “There was an obvious gap in the market for attention–grabbing, portable replicas that actually did true justice to the products that they are selling.
"We developed Stack a Wraps as an alternative to the flat, fibreglass or Styrofoam replicas that have been the only option till now, and the response from clients and advertising agencies has been amazing.”
An initial funding boost from Leeds-based, Access Commercial Finance has helped StackaWraps bring their innovative product to a wider audience, and the invoice finance facility that has been put in place keeps cash flow moving quickly.
Matt Haycox from Access Finance said: “With new firms that are developing a unique concept like StackaWraps, it can be difficult to find the funding to develop ideas and pursue patents at the same time.“
StackaWraps has gone from strength to strength since the funding deal was set up, with an impressive client list that includes the top four UK advertising agencies and some major high-street brands.
Richard Peter added: “Finance from Access has helped us to pick up the pace with our growth, and really get our name out there.
"Since we got our funding deals in place, we’ve grown phenomenally – the creative agencies that we work with control the lion’s share of the advertising industry so StackaWraps is firmly at the forefront of everyone’s consciousness.”