Brent Hoberman reveals growth plans following £6m Series B round

Furniture start-up set for global expansion following new investment round, the London-based online furniture retailer chaired by and MyDeco founder Brent Hoberman and started by Growing Business Young Gun Ning Li has completed a fresh funding round worth £6m.

The Series B funding has been provided by American investment firm Level Equity in tandem with PROfounders, in which Hoberman is a partner., which was founded by former banker Ning Li in 2010, will use the funding to push its expansion plans overseas, particularly in America, which is one of the company’s key target markets.

The company, which purports to offer designer furniture at factory prices, has already attracted 100,000 customers, and collaborated with a string of big-name artists, including Damien Hirst and the Chapman Brothers.

CEO Li and founding management team Julien Callede and Chloe Macintosh, are currently recruiting a new employee every week, and it is thought the business has grown six-fold since launch.

Discussing the new investment, Hoberman told Growing Business: “The funds will be used to build upon the solid brand foundations we have laid, and help us move towards international expansion.

“Thanks to this investment, will evolve as an even stronger platform for homeware designers globally.”



You must log in or Sign up to post a comment.