Flash fashion sales site SecretSales.com, a significant UK player, has raised £4.5 million – its third round of funding – from Partech Ventures’ new Partech VI fund and French private equity firm 123Venture, as well as existing investors Pentech and Doughty Hanson. The co-founders and key managers also participated. The cash will be used on product and customer acquisition.
The company claims to have achieved 70% net sales growth in 2013, pulling in 3.2 million registered members and a portfolio of 650 brands. Some 29% of total sales are made via smartphones and a further 26% from tablets.
Nish Kukadia, CEO of secretsales.com, says he has “ambitious growth plans”, while Philippe Collombel, managing partner of Partech Ventures, commented that the site was part of a movement of new “data-driven” e-commerce businesses.