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Posted on August 30, 2016 by staff

Notonthehighstreet.com boosted by new funding round

Online gift marketplace Notonthehighstreet.com has raised £21 million.

Its latest round of funding was led by German publisher Hubert Burda Media and takes total investment into the company to around £60m.

Notonthehighstreet.com gives creative small businesses a platform to sell unique and personalised products.

Founded in 2006 by Holly Tucker and Sophie Cornish, it is popular for so-called shabby chic gifts and hosts products from 5,000 sellers.

The firm said it will use the money to invest in technology, innovation, marketing and operations.

“Notonthehighstreet.com was born 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,” CEO Simon Belsham said.

“This purpose remains even more relevant today in a world where customers are craving something more than the ubiquity of the mass market.

“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.”

Existing investors Index Ventures, Industry Ventures and Eight Roads Ventures provided more funding as part of the Series E round.

Notonthehighstreet.com also announced its financial results for the 12 months to March 21.

It made a loss of £1.6m compared with a £3m loss for the same period of the previous year.

BusinessCloud revealed last week how tech entrepreneur Scott Fletcher has invested £260,000 into a Lancashire-based disruptive ticketing platform.