Trouva (previously known as StreetHub), a London, UK-based curated marketplace for the homeware and lifestyle brick and mortar boutiques, raised $10m in Series A funding.
The round was led by BGF Ventures, alongside Index Ventures and Octopus Investments with participation from LocalGlobe, Playfair Capital, Downing Ventures, David Lindsay, Troy Collins, William Reeve, Carlos Morgado, and Wendy Becker.
The company, has raised $13.8m to date, intends to use the funds to further develop its platform at existing stores within the Trouva community, while funding expansion to new shops and boutiques across the UK.
Co-founded in September 2015 by CEO Mandeep Singh and CTO Alex Loizou, Trouva has built a technology platform which enables handpicked offline independent stores to compete with retail multiples and e-commerce giants, while enabling customers to find an array of over 80,000 design-led products. The platform also offers real time ‘click and collect’, one-hour delivery and worldwide shipping.
Trouva accepts only a minority of stores that apply to join their community. Having identified such stores, the company then provides its own cloud-based software enabling them to digitize their stock. It also handles all logistics, from click and collect to same day delivery and worldwide shipping.
It currently brings together more than 350 of the UK’s independent shops and boutiques across 115 towns and cities. The marketplace will also establish a new base in Lisbon, alongside its existing London HQ.