Trouva, an online marketplace for homeware and lifestyle brick and mortar boutiques, has raised a $10m Series A.
The round was led by BGF Ventures and drew the support of Index Ventures and Octopus Investments.
Trouva has built a proprietary technology platform to enable consumers to discover brands online. The platform also offers real time ‘click and collect’, one-hour delivery.
Some 350 UK independent shops and boutiques are currently listed on Trouva.
“We will be using the investment to further develop our unique platform at existing stores within the Trouva community, while funding expansion to new shops and boutiques across the UK, and ultimately further afield too,” said co-founder and CEO Mandeep Singh.
Harry Briggs, partner at BGF Ventures, went on to say: “I love the passion that independent boutiques bring to their craft – discovering wonderful products and creating a place that’s a joy to visit. Everyone’s discovered a boutique somewhere that’s full of things that feel made for their home.
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“Trouva helps those boutiques reach more customers, and helps customers further-afield keep up with their favourite boutiques’ latest ‘finds’. Discovery is so hard in homewares, and we believe that Trouva could help people across the world discover those unique, meaningful products that make home feel like home – while enabling the most extraordinary independent boutiques to not only survive, but thrive.”
Trouva will open a new base in Lisbon, as its tech team, led by co-founder and CTO Alex Loizou, is set to triple in size.
Additional investors in this round include early investor Robin Klein at LocalGlobe, Playfair Capital, Downing Ventures and Silicon Valley Bank.
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