Former Tesco CEO Terry Leahy has invested in Occa-Home alongside a syndicate of other investors as part of a £1.5 million deal.
Online interior design store Occa-Home has closed a Series A funding round so that it can further drive growth.
The round has attracted interest from Terry Leahy, ex-CEO of supermarket chain Tesco, Artemis Fund Managers and a consortium of private equity funds. Existing investors, Bill Dobbie and the William Currie Group, also participated – with William Currie having first backed the company in 2012.
William Currie is also an investor in ASOS, an online fashion company which is listed on AIM – where it is the most expensive share and has a value of over £4 billion.
Kate Mooney, founder and CEO of Occa-Home, comments, ‘We are delighted to welcome our new shareholders and advisers to Occa, many of whom bring extensive e-commerce experience to the business.
‘We’re thrilled to be working with stalwarts including Sir Terry, Jill and Bob as we go for significant growth over the next three years.’
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Mooney set up Glasgow-based Occa-Home back in 2009 and has since gone on to achieve triple digit growth year-on-year. She has managed to secure the likes of Cupid founder Dobbie and Jill Little, former buying, merchandising and strategy director to the board of The John Lewis Partnership, as board members.
Robert Willett, the former boss of Best Buy, was installed as chairman in July to help with the company’s growth strategy.
The Occa-Home management team previously ran an architects’ practice, Occa Design, which Mooney says ‘evolved’ into the current business. Among its clients were several big hotel groups including Intercontinental Hotels