BOUF.com has secured a fourth round of investment from 15 angel investors, including Stefan Glaenzer and Robert Dighero of Passion Capital, plus a new lead investor.
The round was secured after BOUF hit a GBP1.2m run rate, following a leap in growth despite boot-strapping the business on costs of just GBP20,000 per month.
BOUF.com raised an undisclosed sum, which has provided the company with fuel to double its team size, develop its range of design-led homeware, fashion accessories and gifts with a twist, and market more aggressively to build a substantially larger customer base.
One of the investors who participated in this latest funding round said: “The BOUF team have a fantastic energy, and been able to achieve product/market fit without spending much money, which has made them a very attractive opportunity for investors as they are well positioned now to scale the business profitably, without the ‘burn’ that so many tech and e-commerce models are burdened by."
In 2007, while browsing the stalls of Spitalfields Market in East London, brand consultant Alex Griffin (pictured) noticed that this vibrant, iconic hub was so popular because the vast majority of designers and niche brands had been outcast from the high street by larger, blander brands. Griffin realised consumers preferred things which were more unique and personal to them, so he set about building BOUF – a curated marketplace packed with only the best of those quirky, usually hard-to-find brands, for consumers who like to stand out.
