Online florist marketplace Florismart clinches £1.3m investment
UK-based flower market will use funding to accelerate growth and meet the demand of its expanding customer base
Florismart, the UK-based online flower market, has secured an investment of £1.3m from private equity growth investor Beaubridge.
Founded in 2015 by Steve France, Florismart brings together exporters, wholesalers and growers on one platform, enabling florists to save up to 20% on cost by buying from a variety of sources and removing layers of the supply chain. It currently operates in the UK and Germany and has 850 independent florists signed up.
The company’s FloraBritain network, which includes a group of growers in Lincolnshire and Norfolk, is aiming to make it easier to supply and sell British flowers to florists across the UK and decrease reliance on European flower markets.
With another £1m set to be invested this summer to complete the £2.3m funding, Florismart will use the finance to accelerate growth and meet demand from new customers.
France commented: “We are delighted to be partnering with such a strong investment team, who have extensive experience in helping companies develop and grow. This investment will enable us to accelerate our expansion and bring transparent competitive prices to more florists for them to access on their own terms.”
Peter Buckley, managing director and co-founder of Beaubridge, added: “The unprecedented demand for Florismart from florists demonstrates the overwhelming support from the industry. Floristry is one of the last industries to adopt technology and the platform is overhauling the way the cut flower market works, to the benefit of independent florists.”