Founded in 2012, by CEO Scott Brenchley, Tactus Group has historically supplied products such as mobile phone and tablet accessories through a wholesale supply service to major retailers such as Amazon, John Lewis, Selfridges, Argos and QVC. Today, Tactus is an accredited Original Equipment Manufacturer (‘OEM’) with Microsoft, a status awarded to only a handful of UK partners.
Tactus has benefitted from doubling its growth in 2017 and forecasts trebling it in 2018. The company is expanding rapidly through the successful launch of its new range of Tactus’ iOTA laptops.
Praetura Commercial Finance has provided Tactus with a £2,000,000 package, which not only supports the Group’s immediate growth but also delivers the additional headroom that will enable the business to enter new markets and drive scale rapidly.
In addition to substantial early volume demand from the Tactus’ iOTA laptops range, the company is now executing a joint venture with Flexwarm, which produces technology enabling the manufacture of smart wearable and efficient products. The Virtual Reality and wearable tech segments are expected to be high growth areas over the next 18 months. With the working capital from Praetura Commercial Finance, Tactus is perfectly placed to maximise the opportunities.
John Osborne, Commercial Director of Tactus Group, said: “In all honesty, working in partnership with Praetura Commercial Finance has been a revelation. They are open and transparent and their work ethic is superb. We are genuinely excited to be working with them and the funding line they have structured for us gives us the confidence to secure new orders and scale up to meet increasing demand.”
Stuart Bates, Commercial Director of Praetura Commercial Finance, commented: “We are delighted to be working with an ambitious business that is looking to expand rapidly and look forward to supporting Scott and his team in breaking new ground in this dynamic cutting-edge, tech-driven arena.”