Trouva secures £17m and hires former Amazon director
eCommerce platform Trouva has raised £17 million in further investment for international expansion and appointed the former editor-in-chief at Drapers and Marie Claire Juliet Warkentin as chief marketing officer.
Launched in London in September 2015 and co-founded by Alex Loizou, Mandeep Singh and Glen Walker, Trouva offers handpicked products from international stores.
The marketplace connects its network of independent boutiques with a wider global customer base using a software platform which handles inventory management and logistics on behalf of the bricks-and-mortar store.
“I’m delighted to have joined Trouva in order to bring what we do to as many people around the world as possible, helping them to find more beautiful things, not just more things,” said Warkentin, who has also served as director of marketing at Amazon Fashion Europe.
The funding was led by Octopus Ventures, alongside C4 Ventures and Downing Ventures, with BGF and LocalGlobe also participating in the round.
The funding round includes the conversion of £7m in convertible notes.
Forty per cent of Trouva’s retailer network is now made up of bricks-and-mortar shops outside the UK, across 12 European countries.
Along with continuing to build its network of independent boutiques, Trouva said it is also set to grow international demand, starting with the launch of a German website.
Singh added: “We will be using this latest investment to grow international demand and are excited to officially launch in Germany as we start to broaden our customer base and expand into new European markets.
“As we continue to scale rapidly, we will also continue to build a world-class team with this funding round. We’re thrilled to bring Juliet onboard as CMO with her experience developing and managing high-profile brands.”