A fast-growing online retailer has raised £4m as it targets £115m in sales.
Rise & Fall was launched by Caravan co-founder Jed Coleman and ex-management consultant Will Coulton in an attempt to offer premium-quality fashion and homewares without markups associated with traditional premium and luxury brands.
In its three years since it was established, the brand has gained popularity with its designs and prices that can be up to 80% lower than comparable designer items.
The London-based company’s model is to partner with the same factories as top fashion houses, cut out middlemen and sell direct to customers.
Its revenue has more than doubled every year since launch and this latest funding round, led by Guinness Ventures, will support continued expansion in the UK and abroad, as well as investment in new product lines and further growth of the brand’s customer base.
The firm also now believes its five-year growth plan is a probability, targeting £115m in sales and EBITDA of £26m.
Angel investment network Wealth Club also contributed £1.4m to the round.
“Rise & Fall is exactly the kind of business our investors love – fast-growing, tackling a big market, and doing things differently,” said Alex Davies, founder and CEO of Wealth Club.
“Jed and Will have built something impressive, with strong momentum and a clear vision. We’re really pleased to be backing them at this stage.”
Coleman added: “We were very pleased to work with the Wealth Club team. They were professional throughout and their investor list is unparalleled.
“We’ve built Rise & Fall to challenge an industry that too often confuses price with quality. By creating a smarter, leaner model – whether for cashmere, silk, or linen – we’ve shown there’s a better way.
“This raise is a major milestone for us and will allow us to take the brand to the next level.”
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