e-trader group Limited, a London, UK-based provider of an online platform that allows retailers and manufacturers to access to both the trade and consumer markets, has raised a £1.2m equity funding from MMC Ventures Limited.
The funds will enable e-trader to complete its acquisition of koodos.com which adds a designer brand fashion clearance channel to stockshifters.com, one of the UK’s leading online trade marketplaces for retailers and manufacturers to sell bulk secondary stock direct to trade buyers.
Commenting on the investment, Ben Richardson, Investment Director for MMC, said: “MMC saw the opportunity to back a proven entrepreneur and help him develop a business with a new proposition in a large and fragmented market. The management team has impressed us with their progress and we are pleased to support them in their next phase of growth, including their acquisition of koodos.com”.
FinSMEs
04/11/2009