The capital outlay follows on from Notion’s initial investment of £1.8 million in 2010. The new fundraising round will be used to accelerate eSellerPro’s entry into new markets and further investment in its product.

Gloucestershire-headquartered eSellerPro has customers including Tesco Outlet, Dixons, Royal Mail and BMW. The business expects to soon surpass the £1 million per day threshold of processed e-commerce sales, according to a statement.

Keith Bird, CEO of eSellerPro, says that since its first funding round in 2010 the business has laid the foundation for further expansion into new markets including what he describes as the ‘all-important’ US sector.

Bird adds, ‘The market is expected to continue to grow rapidly over the coming years and this new funding will help us to accelerate our growth in the UK, US and beyond, while continuing to improve the experience for our existing customers.’

Ben White, partner at Notion Capital, says, ‘The e-commerce market is expected to grow to $1 trillion by 2016 and online marketplaces is one of its fastest growing segments – as such we are very excited about the company’s future prospects and believe they have what it takes to build a very big business.’

Gloucestershire-based Notion Capital is an investment fund focused on growth businesses in the internet-based services sector and currently has ten active investments.