The funding will support the business as it looks to import greater levels of stock to fulfil both larger orders and an increase in demand from both its UK and international customers.
The family-run business was founded in 2013 and champions using sustainable and ethically-sourced ingredients across its range. Dr.PAWPAW products include multi-tasking balms for lips and skin, as well as a hair and body range and the business has benefitted from the growing consumer interest in more sustainable products.
Johnny Paterson, Managing Director at Dr.PAWPAW, said: “The funding from HSBC UK provides us with the financial backing to drive our growth plans as we develop Dr.PAWPAW’s footprint in international markets, including China and the US. We’ve seen significant growth in recent years and aim to build on this momentum with the financial support and international reach of HSBC UK through our Relationship Manager at the bank, James Farrands.”
Sarah Milligan, HSBC UK Area Director for South East Business Banking, added: “We are delighted to support Dr.PAWPAW with its expansion plans and the development of its international presence. The increase in demand for Dr.PAWPAW’s sustainable offering speaks to the growing interest amongst consumers for eco-friendly products, a key element of current beauty industry trends.”
Dr.PAWPAW has won categories in the Cosmopolitan, Pure Beauty and ASOS Beauty awards in recent years, as well as both founders being recognised for their entrepreneurial success. Johnny Paterson received the Great British Entrepreneur of the Year award in 2020 and Pauline Paterson received Highly Commended in the Inspiring Women in Business Awards 2021. The company also donates a percentage of its profits each year to Teenage Cancer Trust as part of its wider philanthropic efforts.
