Trouva raises expansion cash in funding backed by Asos investor
Trouva, the London-based business giving bricks-and-mortar boutiques an online presence, has raised £10 million in a series A round of funding led by BGF Ventures, which has previously backed fashion e-tailers such as Farfetch, Asos and Etsy.
Index Ventures, Octopus Investments and other return investors also participated in the round.
Trouva acts as an online marketplace where small design-led retailers can sell men and women’s clothing, accessories, homeware and other lifestyle products.
Co-founder and chief executive Mandeep Singh said the investment will be used to further develop the platform and will fund expansion to new shops across the UK and ultimately, abroad. Some 350 boutiques are currently listed on the site.
The company is also planning to open a new site in Lisbon, Portugal as its tech team is set to triple in size.
BGF Ventures partner Harry Briggs commented: "Everyone’s discovered a boutique somewhere that's full of things that feel made for their home.
"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 was launched in 2015 as Streethub and describes itself as “the home of independent boutiques online, where you can discover design-led homeware and lifestyle products”.
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