Notonthehighstreet.com, a U.K.-based online shopping marketplace featuring unique and one-off products from individuals and small businesses, has closed a £21 million ($27.5 million) Series E round led by Germany-based media company Hubert Burda Media. Existing investors including Index Ventures and Industry Ventures, and Eight Roads Ventures also participated in the round.
Founded out of London in 2006, Notonthehighstreet.com is an Etsy-style platform that touts itself as an “alternative” shopping channel, hosting a hand-picked selection of goods accompanied by stories of the people who make them. Though there are clear similarities between Notonthehighstreet.com and Etsy, there is at least one notable difference — sellers must apply and be accepted to sell on the former’s platform.
Above: Not on the High Street
Today’s news takes the company’s total funding past the $68 million mark, and it plans to use its fresh cash influx to improve its technology and marketing and to expand into new categories.
“Notonthehighstreet.com has built up a very successful ecommerce business beyond the classic retail model that fits very well with our portfolio,” explained Martin Weiss, managing director at Burda Principal Investments. “We see significant growth potential for this unique business, both in and outside the U.K., making it an obvious partner for us as we continue to grow our portfolio of consumer and technology brands internationally.”
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The company is better known in the U.K., as the platform is only currently open to U.K.-based businesses, but its sellers actually shipped to 154 countries last year. But international sales only represent 5 percent of the company’s total sales, and this is what its latest money will be used for, as it looks to “build its reach” globally and open up to sellers in more countries.
