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UK marketplace eporta nabs $8m in round led by US investor

London-based furniture marketplace eporta has raised $8m (£5.66m) in a Series A funding round led by US investor Canvas Ventures.

Among others, venture capitalists LocalGlobe, and angel investors Rohan Blacker (founder of  sofa.com) and Simon Kain (co-founder of Zoopla) also participated in the round.

Founded in 2015, the startup is credited with being one of just a handful of UK companies to secure Series A investment from a US venture capital firm in the past year.

Similar to the model of online marketplace MADE.com, eporta allows interior designers, architects, property developers, offices and other businesses to find and purchase furniture pieces directly from manufacturers around the world.

The company will use the new funding to expand its team of 28 in Clerkenwell, set up its first office outside the UK within the next year, and launch new product categories including fabrics, bathrooms, and surfaces.

Eporta was founded by Manchester-born Aneeqa Khan. She said of the investment: “During my time at Zoopla I bought a flat in Brixton and was basically struggling to find furniture for it.

“I realised that the reason I was finding it so difficult wasn’t because there aren’t great pieces out there. It’s actually because it’s really hard for people to find those great pieces or for the people who make the pieces to find trade buyers. So, I decided to solve that problem,” she added.

There are currently over 1,000 sellers in 55 countries and over 10,000 buyers in 85 countries using eporta. The startup claims that companies that purchase items on its platform can expect to save up to 50% off retail pricing.

Paul Hsiao, founding partner at Canvas Ventures, said: “Through our marketplace investments, we’ve seen what it takes to build a category-defining company that brings value to buyers and suppliers alike.

“We believe eporta will transform the commercial design and furnishing sector in the same way that Houzz has reinvented the consumer home-design market,” he added.

Check out our UK tech investment tracker for the latest industry deals.

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