Notonthehighstreet.com is in talks with unknown investors to raise £25m.
According to Sky News the etailer, which turns ten this year, was approached by currently unnamed investors and is in talks to raise £25m by selling new shares.
The company has been preparing for expansion, having brought a number of new team members into key positions. In February Net-a-Porter boss Hugh Fahy joined Notonthehighstreet as Chief Technology Officer. Last year Poundland‘s Darren Shapland was hired as Chairman, and even Chief Executive Simon Belsham was formerly at Tesco.
Notonthehighstreet is an online platform that caters to over 5,000 small businesses. This investment would help it become a “unicorn”: a private technology company worth over $1bn.