// Atterley closes £3m funding round
// The online fashion marketplace is seeking to execute its growth strategy
// The funding round was led by private equity firm Maven Capital Partners
Atterley has reportedly closed a £3 million funding round as it seeks to execute its growth strategy.
The investment, which also includes commitments from development agency Scottish Enterprise and existing shareholders, was led by private equity firm Maven Capital Partners, Drapers reported.
The online fashion marketplace currently works with more than 250 independent retailers and 3000 brands.
Existing investors include Sir Terry Leahy, former chief executive of Tesco.
“This investment is a game changer for us and really sets us up for our next big phase of growth,” Atterley founder and chairman Mike Welch said.
“We have always taken a ‘test and learn’ approach to our investments in growth and that has not only kept us in control of our destiny as shareholders but has carried us through some of the most testing times for businesses that we have ever seen.”
Maven partner David Milroy said: “The retail sector is going through unprecedented change creating huge opportunities for online fashion marketplaces.
“We were drawn to the company’s ethos, which places its boutique partners front and centre, and in so doing, it is able to offer consumers a vast range of premium, emerging and undiscovered labels, expertly curated by some of the world’s most talented fashion buyers.”