Online florist Floom aims to flourish with capital injection | Economic news
One of the UK’s best-known online florists is looking for new capital after raising millions of pounds from major venture capitalists.
Sky News understands that Floom has brought on advisers from Interpath to advise him on strategic options which could include a sale.
Operating in the UK and USA, Floom provides a business platform for florists as well as a marketplace for consumers to buy from independent flower sellers.
The company, founded in 2016, would approach 250,000 customers.
Information released to potential investors under the code name Project Neel suggests Floom suffered a loss of nearly £2m last year, slightly more than the £1.4m loss recorded last year. ‘last year.
It competes with Interflora and Bloom & Wild.
In 2018, it raised a £2m funding round from investors including Firstminute Capital.
New Look founder Tom Singh and former executives from companies such as Just Eat and The Hut Group were also among the investors.
It was unclear on Tuesday how much extra money he was seeking or what potential backers he was in discussions with.
Lana Elie, Founder and Managing Director of Floom, wrote in an email: “We have engaged Interpath Advisory to support Floom’s secure investment to support our next stage of growth.”