Sportswear flash Sales site SportPursuit.com has secured £9.5m in funding to push its international expansion and develop new products and services.
The etailer, which runs week-long promotions of between 40% and 70% off last season’s stock on more than 1,000 sports and outdoor brands, raised the funding from Scottish Equity Partners, Grafton Capital and existing investor Draper Esprit.
Established in 2011, SportPursuit has over 2 million members and delivers to 40 countries. It launched local language sites in France, Germany and Denmark in 2015.
International now accounts for 15% of sales and is the fastest growing part of the business.
Adam Pikett, chief executive and co-founder, said: “The vision was always for SportPursuit to be an international business and the way our new territories have grown has reinforced that vision. This investment enables us to accelerate our expansion and really capitalise on our mission to be the pan-European market leader.
”It allows us to invest in delivering a truly local proposition in international territories and focus on doing the fundamentals really well; great offers from great brands backed up by a great customer experience.”
Stuart Paterson, partner at SEP, added: “Their strong background in retail strategy and their clear focus on the premium end of the sports clearance market makes them well placed to capitalise on their current position in the UK and to translate that globally.”
Paterson and co-founder and partner at Grafton Capital Oliver Thomas have joined SportPursuit’s board of directors as part of the deal.