Online eco-marketplace completes £200,000 angel round
Funding set to trigger expansion of product range
EthicalCommunity, an online marketplace offering everything from organic t-shirts to Ethiopian coffee, has completed an angel funding round worth £200,000.
The funding has been provided by a syndicate which includes ASOS.com board member Mary Turner, Orange Advertising chief executive Guiliano Stiglitz, and Alchemy Partners founding member Robert Barnes.
It is thought that EthicalCommunity, which was set up by Leeds University graduates Liam Patterson and Jason Dainter in 2009, will use the funding to expand its community of sellers and shoppers.
The site already comprises more than 850 sellers, drawn from around the globe, with over 7,000 ethical items available.
Discussing the implications of the new investment, Patterson said: “We’ve come a long way with the business and have big plans, particularly with overseas markets such as the US, Canada and Australia, where eco-friendly products are extremely popular.
“The investment will give us a tremendous boost in this respect together with our refined marketing and IT efforts. Moreover, we now have a team of successful entrepreneurs on board whose experience and advice will be invaluable in helping us achieve our growth ambitions.”