UK digital lifestyle marketplace Opumo has received more than £800,000 investment from Scandinavian fund North-East Venture.
Opumo, a zero-inventory marketplace, was founded in 2017 by Nick Ayoub and Harry Beattie, who come from property and business backgrounds respectively.
The investment follows a successful crowdfunding campaign, involving more than 400 Opumo customers, bringing the total funds raised to £1.2m. The platform has reported an average 18% month-on-month sales growth since 2017.
North-East Venture’s current portfolio includes Nordic footwear brand Arkk Copenhagen and lifestyle brand Mater. Both already sit on the Opumo platform.
Opumo will use the funding to increase its technology and marketing teams, and advance its editorial output and membership scheme.
CEO of North-East Venture Martin Lumbye said: “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.”