Well-known British angel investors are coming together to back the growth efforts of a two year-old internet start-up.
Atterley Road, which was set up by Edward David and Katie Starmer-Smith, provides an edit of what it calls ‘75 contemporary yet affordable fashion brands‘ such as Ganni, Selected Femme and Maison Scotch.
The £2 million investment will be used by Atterley Road to develop and expand the brand as well as growing its own recently launched eponymous brand.
David, CEO of Atterley Road, comments, ‘Securing funding from high quality investors, who have the experience and industry knowledge needed to really expand the business, can be challenging.’
Investors in Atterley Road include Terry Leahy, the former CEO of Tesco whose recent investments include Occa-Home, and The William Currie Group, which has backed e-commerce businesses such as ASOS.
‘Their proven experience in retail and e-commerce will be critical to the development of the brand over the next few years, and to have them as investors is a testament to what Atterley Road has achieved since its launch,’ David adds.
According to a statement from the business, sales of £2 million were generated during its first year of operation – while sales growth of 100 per cent has been secured year-on-year. Its site also draws 200,000 monthly visits from 100 countries.
Bill Currie, chairman of the William Currie Group, says, ‘The team at Atterley Road have built a fantastic brand with great growth potential in a very short period of time.
‘They have the right foundations in place to build a great e-commerce business and we are looking forward to working with them to achieve that.’