- Investor funding led by Hubert Burda Media
- Etailer has 5,000-strong partner (seller) community
- Coincides with year-on-year sales growth of 19% – tenth consecutive year of double-digit growth
Online retailer Notonthehighstreet.com has secured £21m from its investors in a move to expand in the UK and international markets.
Notonthehighstreet will use the funds to expand its categories, develop online and offline customer experience and expand internationally as well as continue to develop its core gift category.
The funding was led by media and technology company Hubert Burda Media with other support coming from existing funders including Index Ventures, Industry Ventures and Eight Roads Ventures.
Chief executive Simon Belsham said: “Notonthehighstreet.com was borne 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.
“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.”
The investment coincides with Notonthehighstreet reporting narrowing losses and sales growth of 19% for the 12 months to March 31.