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Independent retailer network StreetHub raises £1.7m

Online independent retailer network StreetHub has raised $2.6m (£1.7m) from a number of high-profile investors, including the backers of Farfetch, Net-a-Porter and Asos.com.

The funding will be used to promote StreetHub’s newly launched website Trouva, which sells a selection of products handpicked from across the network’s 350 fashion, lifestyle and homeware boutiques. 

StreetHub, whose app uses location technology and inventory data to show shoppers what is available in local stores, mainly in London and Brighton, will now operate under the Trouva name.

Trouva takes StreetHub a step further, offering one-hour click-and-collect delivery to selected postcodes across the UK, as well as worldwide shipping.

Mandeep Singh, co-founder of StreetHub, said: “We’ve seen huge success with our iPhone app launch last year, with more than 40,000 customers using the app to discover and purchase from independent shops in their local vicinity.

“This is how we identified the opportunity to serve people who are keen to discover shops that are a little further afield too, and offer worldwide shipping. Trouva is the logical next step for us in our mission to help our independent retailers to reach a wider audience.”

StreetHub, which was founded in 2013, raised $1.2m (£777,000) in the December of that year, bringing its total investment to date to $3.8m (£2.5m). 

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