Notonthehighstreet.com bags £21m investment
Online marketplace NotOnTheHighStreet has secured further funding of £21m in a round led by Hubert Burda Media. And it looks like they’ll be investing at least some of the money in taking NOTHS to shoppers and sellers outside the UK.
Other investors involved in the round (Series E) are existing investors including Index Ventures, Industry Ventures and Eight Roads Ventures.
In a statement Burda says: “Notonthehighstreet.com will use the funds to:
– Further invest in the innovation, marketing and operations that allow the company’s 5,000 Partner (seller) community to connect with more customers and scale their businesses
– Further build Notonthehighstreet.com’s core gifting offer, expanding categories and developing the customer experience both on and offline
– Open up Partners’ access to new markets, and build the business’ international vision”
Notonthehighstreet.com CEO Simon Belsham commented: “Finding an investor that shared our vision and could provide strategic support, as well as new funds to support our multiyear 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.”