Online ‘garage’ seeks equity

13 january 2013

T HE online car parts retailer Micksgarage.com, which is backed by a number of former and current Paddy Power executives, is seeking up to €2m in fresh equity as part of a plan that will see it quadruple its Dublin-based staff to more than 80 within three years.

Ciarán Crean, the company’s managing director, said he has held discussions with several venture capital firms, including one from Silicon Valley, the US tech heartland. He has also held discussions with a number of Dublin-based investors in recent weeks.

The cash will be used to pursue an expansion strategy in Britain and also to fund its entry into about six new continental European markets, including France, Spain, Germany and Italy.

The company’s sales are currently split almost 50/50 between Ireland and Britain. Crean, from Mayo, said the company is also eyeing a future push into the American market, from where it currently derives