While the economic outlook may look bleak, three online retailers
are proving that attracting investors is still possible in
today’s climate.
Online marketplace Notonthehighstreet.com secured a £10
million investment in a series D funding round that will enable
it to develop its brand both in the UK and overseas. Having
recently launched multicurrency functionality on its website, the
investment is a vital step in enabling Notonthehighstreet.com to
reach consumers globally while growing its business in the UK.
The round was led by Fidelity Growth Partners Europe and
supported by previous investors, Index Ventures and Greylock
Partners.
Another homewares marketer, Occa-Home, also has ambitious plans
for expansion having raised an undisclosed amount from
early-stage investors at The William Currie Group. With the
backing of retail specialists Bill Currie and Iain MacDonald,
who’ve also supported The Hut and ASOS, Occa-Home will be able to
invest in developing digital marketing initiatives and increasing
its collection and the number of brands it stocks.
SportPursuit, a start-up in the private-sales sector, raised
approximately £1.5 million in a series A funding round led
by European venture capital firm DFJ Esprit alongside a number of
business angels from the sport and eCommerce sectors. Adam
Pikett, cofounder and chief executive of SportPursuit, says that
among other developments, the investment will be used to fund the
company’s global expansion.
In related news, Japan-based online marketplace Rakuten is
leading a $100 million investment in social network Pinterest,
with participation from existing investors Andreessen Horowitz,
Bessemer Venture Partners, and FirstMark Capital, as well as a
number of angel investors. The funding marks the start of a
strategic partnership between Rakuten and Pinterest to help the
network expand in Japan and into Rakuten’s 17 other global
markets.
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