‘Free website builder’ Moonfruit has raised £1.5 million to fund its international expansion plans.
‘Free website builder’ Moonfruit has raised $2.25 million (£1.5 million) to fund its international expansion plans.
The company, which was founded in the UK in 1999, attracted the money from US-based investment bank Stephens. The majority will be used for a worldwide sales and marketing drive.
Founder and chief marketing officer Wendy Tan White says the ‘boot-strapped’ company has been profitable for seven years, with ‘multi-million dollar sales’.
She adds, ‘We think the time is right now for a calculated risk to take the business to the next level.’
More than 2.8 million websites have been built using Moonfruit’s software. Some 49 per cent of the London-based company’s customers are in the UK, with 26 per cent in the US.