notonthehighstreet.com, the UK’s largest curated online marketplace, has secured a GBP6M term loan from Silicon Valley Bank. The funding will be used to provide additional liquidity as the business continues to grow.
notonthehighstreet.com brings together over 5,000 of the UK’s best small creative businesses offering over 170,000 original, inspirational lifestyle products, many of which are bespoke and made to order. Investors backing the business include Venrex Investment Management, Index Ventures, 83North, Fidelity Growth Partners and Industry Ventures LLC.
Andy Botha, CFO at notonthehighstreet.com, says: “Our business has continued to go from strength to strength and this financing will enable us to further our growth ambitions. We always aim to work with partners who truly understand our business model and the e-commerce sector in which we work. Silicon Valley Bank fulfils this aim by creatively supporting our financing needs and by understanding the demands of a modern business environment.”
Andrew Hunter, Director at Silicon Valley Bank, says: “As one of the UK’s fastest growing e-commerce businesses, notonthehighstreet.com has built a unique platform that engages small businesses in an innovative way. notonthehighstreet.com’s management team have achieved impressive results over the last few years which have led to significant growth. We are excited to provide this funding to enable the business to execute its next growth phase.”
