Not on the High Street, the UK’s best-loved curated online marketplace for unique lifestyle products and thoughtful gifts, today announces it has been acquired by growth equity firm Great Hill Partners. Great Hill Partners will become the majority shareholder in the business, with existing investors BurdaPrincipal Investments and Industry Ventures also remaining as shareholders.
The news comes following a year of unprecedented growth for Not on the High Street, in which revenues rose more than 50%. During this time, the company, which supports thousands of the UK’s best independent artisans, designers and boutiques, grew its customer base by almost 1 million and added four times as many hand-picked small business partners to the site than the prior year.
The backing and expertise of this investor base will help Not on the High Street to further advance its growth; expanding its reach in the UK’s small business community, and developing and diversifying the range of products offered through the marketplace in order to meet growing customer demand for categories such as homeware, gardenware, and food & drink.
The transaction is also a catalyst to expedite the company’s tech and product roadmap for both sides of its business, evolving the experience of its small business partners, and helping customers find the perfect product from the now expanded range through the evolution of on-site and in-app discovery tools and algorithms.
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