British online department store has raised 1.2 million pounds

UK design marketplace Opumo raises €1.33 million

British online department store has raised 1.2 million pounds. Source: shutterstock.com

Opumo, a British online department store with design-led products from around the world, has raised 1.2 million pounds (1.33 million euros), Ecommerce News reports. The successful round of investment happened thanks to Danish fund North-East Venture and a crowd raise from over 400 customers.

Opumo is an online marketplace from the United Kingdom that connects contemporary lifestyle brands with international customers. Aside from the hundreds of customers that invested in the platform through crowdfunding, North-East Venture also supported the company in its goal to become the digital department store of the future.

According to North-East Venture’s CEO Martin Lumbye, Opumo has a “truly exquisite eye” for what their customers are looking for. He looks forward to exploring the potential of Opumo’s business model.

With the money, Opumo wants to build out its tech and marketing teams and improve its membership scheme. Co-founder Nick Ayoub says that since launching its loyalty program The Club, the company has been blown away by the loyalty and passion the club members have shown for everything the company stands for. Ayoub also tells that the company is looking to go abroad with Opumo, working on expanding to the US, Scandinavia and Benelux in the nearest future.

Opumo was launched in March 2017 by Nick Ayoub and Harry Beattie and has been showing 18% month-on-month growth since then. On the platform, customers can find fashion, art, furniture, home technology and lighting.

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