Notonthehighstreet.com has inked a deal with some of Europe’s largest technology venture capital firms for a £10m investment.
The cash will fund a marketing push for the website and a move overseas. About 10% of the etailer’s sales come from overseas but the additional funding will enable it to open offices in its largest international markets.
Fidelity Growth Partners Europe(FGPE) led the investment, supported by Index Ventures and Greylock Partners, which valued the etailer at almost £100m.
It is the fourth round of funding for the website which sells products which it claims would otherwise be bought in “urban marketplaces, village fairs or small boutiques.”