LRG Online Limited
Investec advises LRG Online (trading as Secret Sales) on funding round to accelerate international expansion
Investec Bank plc (“Investec”) has advised LRG Online (trading as “Secret Sales”) on an equity fundraising round to accelerate its international expansion. Investec acted as sole adviser to LRG Online, which saw existing investors increase their backing at a higher valuation.
LRG Online closed its Series A funding round in June 2021, with Perwyn providing the business with investment for technological development to scale its e-commerce platform and prepare for international expansion. The announcement of the latest funding round coincides with the first phase of its European rollout through the launch of two new international websites in the Netherlands and Belgium. The investment will further accelerate growth into 12 more European countries over the next two years.
Investec continues to support LRG Online as it executes its long-term growth strategy, with the aim of becoming the leading off-price e-commerce channel in the fashion industry. We advised the business on its previous funding round where we introduced Perwyn who led this follow-on fund raise. Perwyn invested alongside existing investors Big Ideas Group and Belerion.
About LRG Online Limited/Secret Sales
LRG Online’s unique, direct-to-consumer business model enables fashion, beauty and homeware brands and retailers to clear overstock efficiently via an online marketplace, in a way that maintains brand equity, improves margins and provides a more sustainable disposal route. It also helps introduce new customers to individual brands’ full price channels via a GDPR compliant marketing programme.
Link to Secret Sales: https://www.secretsales.com/