Trouva, the online platform for independent brands and retailers, marks its second birthday today with news of 1,509% growth since its launch and has revealed its next step is to take the offer global.
The business was founded in 2015 by former retail consultant Mandeep Singh and co-founder/CTO Alex Loizou who raised £2.5m in seed funding and backing from angel investors ahead of its launch. Today the business hosts products from more than 350 boutiques in 119 towns and cities across the UK – a 133% increase in registered businesses since 2016 – and 11 of those boutiques have clocked up £100,000 in sales through the platform.
Trouva’s platform gives boutique owners the capability to offer customers real-time ‘click and collect’, one-hour delivery options (with a record-breaking arrival time of just 22 minutes) and worldwide shipping. The longest product journey from Trouva.com has been a leather wallet from the Our Daily Edit boutique in Brighton that was delivered to Timaru, New Zealand – 11,807 miles away.
Singh said the next step for the business was to “unite all the world’s independents”. “When we founded Trouva, technological innovation was disrupting the high street at a fast pace. Our mission is to equip independent boutique owners with the latest technology to enable them to to have a competitive edge in the digital world. We have built a technology platform which empowers offline independent stores to compete with retail multiples and e-commerce giants,” he said.
“We’re very proud to be celebrating our second birthday and these incredible growth figures. But the biggest accomplishment it to see the positive impact Trouva is having on the lives of boutique owners across the UK. We’re helping their businesses not to survive, but to thrive in today’s challenging and ever-evolving retail landscape.”
“Trouva’s next step is to build a huge community that unites all the world’s independents. The opportunities for shoppers in the UK to be able to discover great shops in Berlin, Stockholm, Japan or the US and be able to get those products delivered efortlessly is really exciting – watch this space,” Singh added.
This summer, the company scooped The Europas 2017 Hottest E-commerce/Retail startup award (beating competition from Deliveroo and Bloom & Wild), and is a member of Tech City UK’s Upscale programme. It has also been announced as one of Europe’s top five fastest growing tech businesses by TheNextWeb’s Tech5.