SportPursuit.co.uk, which offers discounts on branded sports goods to its members, has raised $2.3 million (£1.4 million) from venture capital firm DFJ Esprit and angel investors.
The site was launched in August 2011 and runs ‘flash sales’ in which it offers discounts of up to 70 per cent on surplus stock from brands such as Adidas, Hi-Tec, Trespass and sports nutrition label Centrum.
Angel investors in the round include Peter Draper, former marketing director of Manchester United football club, Zoopla CEO Alex Chesterman and Lovefilm co-founder William Reeve.
DFJ Esprit led the round, investing from its newest fund DFJ Esprit III. Partner Paul Murray remarks that SportPursuit.co.uk is ‘one of the fastest growing start-ups in the retail industry’ thanks to its ‘proven’ model of selling to registered members.
Adam Pikett, CEO and co-founder of the start-up says the company plans to hire more staff in a bid to secure its position as ‘the leading business of its type in the UK and, in time, beyond’.