Investment of £10m for Notonthehighstreet.com
has won investment of £10m as it looks to become the UK’s go-to site for “original, thoughtful products” while expanding its international sales.
This is the website’s fourth round of funding, led by Fidelity Growth Partners Europe
(FGPE) and supported by existing investors Index Ventures
and Greylock Partners
. It will use the money to add more partners in the UK, while also investing in innovative technologies. The company has recently started to offer a choice of currencies and is now looking to reach more international consumers.
Notonthehighstreet.com says it is tapping into a growing consumer mood that rejects generic and mass-produced goods in favour of more original items. It describes its own merchandise as “curated collections of original and inspiring products from the best small creative businesses.” When founders Sophie Cornish and Holly Tucker started the business six years ago, they initially offered products from 95 small businesses. Today the company has more than 3,000 partners who between them sell more than 50,000 products.
Holly Tucker, chief executive and co-founder of notonthehighstreet.com, said: “We are thrilled to be working with FGPE, which has more than 40 years of experience supporting businesses such as ours to help provide the expertise, resources and connections required to take us to the next level.
“With them we will expand the opportunities in the UK by supporting more talented small UK businesses and so becoming the number one destination for original, thoughtful products which celebrate what matters to an individual.”
Davor Hebel, partner at FGPE, said: “In a few short years notonthehighstreet.com has successfully reached a significant portion of the UK population through its unique gift offering. The company’s phenomenal success to date is reflected in its outstanding performance and the many industry awards it has won. We are very excited to be part of the next phase of the company’s journey as it looks to transform the global gifting market.”
Davor Hebel from FGPE and Laurel Bowden from Greylock Partners will join the board of notonthehighstreet.com.