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Trouva bags $10m funding

Independent retail platform Trouva has raised $10m (£7.5m) in a funding round to expand its reach in the UK and abroad.

The Series A funding round was led by BGF Ventures alongside Index Ventures, which invests in Farfetch, Asos and Etsy, and Octopus Investments, backers of Secret Escapes and Graze.

Trouva currently works with more than 350 of the UK’s independent shops and boutiques across 115 towns and cities.

“We will be using the investment to further develop our unique platform at existing stores within the Trouva community, while funding expansion to new shops and boutiques across the UK, and ultimately further afield too,” said co-founder and CEO Mandeep Singh.

“We want Trouva to become the global destination for the best independent shops in the greatest cities in the world, from Montmartre in Paris, Shibuya in Tokyo or Shoreditch in London, the greatest independents will be united on our global platform. At the same time, through click and collect, we’re encouraging our boutique-loving customers to visit the shops in person.”

The marketplace is also launching a new base in Lisbon, alongside its existing London HQ, as its tech team, led by co-founder and CTO Alex Loizou, triples in size.

Additional investors in this round include early investor Robin Klein at LocalGlobe, and existing investors Playfair Capital and Downing Ventures.

Founded in 2015, Trouva also has several high-profile angel backers, such as the former CTO of Farfetch and Net-a-Porter, David Lindsay; Troy Collins, co-founder of Secret Escapes; and Wendy Becker, former CEO of Jack Wills. 

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