PoundFun, the UK’s fastest-growing online toy retailer, has appointed Glen Richardson, former chief omnichannel officer of £1bn+ retailer The Range, as non-executive director, coinciding with the launch of a £2m investment round which aims to fuel expansion and promises to create over 200 jobs in Keighley, and position the business for a projected £60 million valuation by 2027.
PoundFun was created to help families afford high-quality toys from trusted brands amid rising costs. Offering over 800 items at £1 or less, including ranges from LEGO, Barbie, Marvel, and Disney, PoundFun has shipped more than 143,000 orders since launching in July 2023. The company has grown to £3.9 million in sales, with no outside capital and a 32.18% repeat customer rate.
“We’re building the go-to destination for value toys, where families can say yes more often without breaking the bank,” said Rob Owlett, CEO and co-founder of PoundFun. “Saying no all the time sucks, whether it’s to a birthday treat, a surprise gift, or just something fun. We make it possible to say yes to those little moments of joy. Glen coming on board is massive; he’s scaled the big guys, and now he’s helping us build something really special.”
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Richardson brings deep experience in ecommerce, marketing, fulfilment and governance. As COO of The Range, he led digital growth for the billion-turnover retailer, including e-commerce, fulfilment, customer experience and marketing. He also served as CMO at Fruugo, helping drive the global marketplace through exponential growth.
At PoundFun, Richardson will support strategic expansion and strengthen corporate governance as the company enters a phase of rapid scaling.
The newly appointed non-executive director of PoundFun, said: “From the moment I saw what PoundFun are doing, I was hooked. It’s a brand built on heart, value, and serious commercial firepower. I’m thrilled to bring my experience to the board and help shape what will be one of the standout retail growth stories of the next few years.”
The £2 million raise values the company at £14.96m and will be used to:
- Expand product range from 2,800 to 15,000 SKUs
- Launch localised marketing in the US and EU
- Hire key talent in e-commerce and marketing
- Develop wholesale and subscription revenue streams
- Create over 200 new jobs in Keighley, West Yorkshire
The online toy industry is valued at over £18 billion in the UK, US, and EU, and PoundFun is the UK’s fastest-growing online toy retailer, offering unbeatable value on branded toys and mystery boxes.
Built for families by families seeking quality and affordability, PoundFun is live across PoundFun.com, TikTok Shop, Amazon, eBay, and Temu, and was recently recognised as one of the top 1% of fastest-growing Shopify brands in 2024.
