Notonthehighstreet.com raises £21m in funding

By

Cajsa Lykke Carlson

Published
Aug 29, 2016

Notonthehighstreet.com, the British online department store that sells products from creative small businesses, just landed £21m in a funding round.

The Series E funding round was led by Hubert Burda Media, with additional support from existing investors including Index Ventures, Industry Ventures and Eight Roads Ventures. Notonthehighstreet has seen ten consecutive years of double-digit growth and just posted year-on-year sales growth of 19%.

Martin Weiss, Managing Director at BurdaPrincipal Investments, commented: “Notonthehighstreet.com has built up a very successful E-Commerce business beyond the classic retail model that fits very well with our portfolio. We see significant growth potential for this unique business, both in and outside the UK, making it an obvious partner for us as we continue to grow our portfolio of consumer and technology brands internationally.”

The etailer, which was founded in 2006, said it will use the funding 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.”