Bargainmax.co.uk is planning to use the money to increase its product range and stock by over 60% in the next year.
Currently, the toy brand offers over 2,500 products for children, including famous brands such as Barbie, Lego, LOL Surprise and Paw Patrol.
Gigi Mechlowitz, the managing director of BargainMax.co.uk, said: “Being an online-only retailer, we were well-prepared when the pandemic started and could continue our two-to-four-day lead time on deliveries whilst experiencing a significant boost in demand.
“We will continue to deliver this quality of service through investments in new products and e-commerce solutions.”
She added: “Online retail businesses have experienced a lot over the last 12 months but we’re confident that our ambitious growth strategy will put us at the forefront of the toy sector.”
Zubayr Atcha, corporate relationship director at HSBC, said: “BargainMax.co.uk has grown rapidly both domestically and in Europe and, in the last year.
“This funding enables the business to build on its impressive track record and will stand it in good stead within the world of online retailing.”