A Scottish online fashion retailer has closed a £3m funding round, led by Maven Capital Partners, following a 200% rise in sales during the first quarter.
Atterley, led by Scottish entrepreneur Mike Welch, will use most of the capital to target consumers in the US.
It has already received funding commitments from Scottish Enterprise for the plan.
The retail marketplace is already used by more than 250 independent boutiques to reach customers worldwide - and has around 3,000 brands live on the site.
Rising year-on-year sales have been attributed to return customer and new geographic markets, due to the home shopping trend evident during the pandemic.
Founder and chairman Welch explained: “We have always taken a test and learned approach to our investments in growth and that has not only kept us in control of our destiny as shareholders, but has carried us through some of the most testing times for businesses that we have ever seen.”
David Milroy, partner at Maven, said: “The retail sector is going through unprecedented change creating huge opportunities for online fashion marketplaces and we are delighted to be supporting one of the most exciting, Atterley.
"We were drawn to the company’s ethos which places its boutique partners front and centre and in doing so it is able to offer consumers a vast range of premium, emerging, and undiscovered labels expertly curated by some of the world's most talented fashion buyers.”
Atterley has a team of 20 employees based in Edinburgh, with former Blackcircles team, chief executive Kenny Baillie, and chief operating officer James Eccleshall, alongside former Vogue Editor Alexandra Shulman as an advisor to the board.
Existing Atterley investors include Sir Terry Leahy, the former chief executive of Tesco, and Graeme Bissett, the former chairman at Blackcircles.
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