Scandi fund invests in online design marketplace Opumo
today Jul 11, 2019
British design marketplace Opumo has secured an investment from a Danish multi-stage fund called North-East Venture as part of a successful round of funding.
The fund backed by a Danish family-run office has invested an undisclosed sum in Opumo, which has been dubbed the ‘digital department store of the future’. The online destination connects contemporary lifestyle brands with customers from around the world, combining content, community and commerce to deliver a unique shopping environment.
It offers clothing, footwear and accessories as well as grooming products, furniture, and sound systems. Two brands backed by North-East Venture, sneaker label Arkk and design brand Mater, already benefit from being featured on the Opumo platform. Other brands available on the website include Sunspel, Adidas Y-3, Ron Dorff and G.H Bass & Co.
Martin Lumbye, CEO of North-East Venture, commented: “In Opumo we’ve found a rare combination of business skills and understanding of the market and a truly exquisite eye for what their audience is looking for. Our hopes and ambitions for Opumo are very high and we look forward to working closely with the company’s management team to fulfil its potential.”
Opumo has grown 18% month-on-month since its launch in March 2017. It recently launched a crowdfunding campaign which saw over 400 customers support its vision.
The funds raised will be used to hire more tech and marketing specialists, advance Opumo’s editorial output and improve the membership scheme, which offers rewards for referrals and recycling.
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