Tech Startup Trouva, a Marketplace for Independent Shop, Raises $10m from Various Investors

Photo via FashInvest

Trouva, a tech startup with a website that gives independent shops the ability to sell online, has raised new cash from investors.

BGF Ventures has started the $10m (£7.6m) series A, with Index Ventures, a previous supporter of fashion firms Etsy, Asos, and Farfetch, and Octopus Investments also participating.

Trouva serves as a marketplace for small businesses that sell homeware, clothing, and various lifestyle items. The website currently has over 350 sellers.

“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,” stated Mandeep Singh, its co-founder and chief executive.

Harry Briggs, BGF Ventures partner, stated: “Everyone’s discovered a boutique somewhere that’s full of things that feel made for their home.

“Trouva helps those boutiques reach more customers, and helps customers further-afield keep up with their favourite boutiques’ latest ‘finds’. Discovery is so hard in homewares, and we believe that Trouva could help people across the world discover those unique, meaningful products that make home feel like home – while enabling the most extraordinary independent boutiques to not only survive but thrive.”

Previous investors Playfair Capital, Downing Ventures, and Robin Klein of LocalGlobe also supported the two-year-old firm.

Trouva also boasts early assistance from angel investors including Greg Marsh, the Onefinestay co-founder, and Adrian Blair, the Just Eat operating chief.