Notonthehighstreet.com, an online marketplace for creative small businesses, has raised £21 million, bringing total investment in the company up to around £60 million.
The Series E funding round was announced on Sunday and led by German publisher Hubert Burda Media, with additional support from existing investors including Index Ventures, Industry Ventures and Eight Roads Ventures.
The company — founded in 2006 by Holly Tucker and Sophie Cornish — aims to help people find unique gift ideas and personalised gifts, as well as provide inspiration on everything from home decorations to fashion and jewellery.
Some 5,000 sellers use notonthehighstreet.com’s platform to connect with more customers and scale their businesses.
The company said it will use the money to invest in technology, innovation, marketing and operations. It will look to expand on its existing categories and develop the customer experience both on and offline.
Notonthehighstreet.com CEO Simon Belsham said in a statement:
“Notonthehighstreet.com was born out of the belief that customers want products that are more thoughtful, unique and personal and that, through technology, we could connect thousands of independent businesses — the makers of these great products – with customers around the world. This purpose remains even more relevant today in a world where customers are craving something more than the ubiquity of the mass market.
“Finding an investor that shared our vision and could provide strategic support, as well as new funds to support our multi year growth plan, was key. Burda has a longstanding reputation as an investor in cutting-edge consumer and technology businesses and an international reach that will help us accelerate the potential we see both at home and overseas.”
Notonthehighstreet.com announced the investment alongside results for the 12 months to March 21.
The results show that the company made a loss of £1.6 million, down from £3.0 million for the same period for the previous year.
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