Listed Nottingham-based eCommerce business Huddled Group plc has raised £740,000 via a share placing and retail share sale.

Huddled Group buys surplus stock from manufacturers and retailers before selling it online at a fraction of the usual price through its brands DiscountDragon, Nutricircle and BOOP Beauty.

It claims to have saved millions of items from being unnecessarily wasted, while it has donated and distributed hundreds of thousands of items to food poverty charities in the UK.

The funds raised will be used will be used to further strengthen the group’s stock and working capital position across its various brands, as well as provide additional working capital to fund the expansion into new channels such as KwikSales and marketplaces such as Amazon and Temu.