Fuel Ventures heads up The Moot Group seed funding round

E-commerce technology platform startup, The Moot Group, has secured £5 million in seed funding in a round led by Fuel Ventures.

This is set to be followed by a Series A round anticipated to be in the region of £20 million.

The funding will be used to get TMG to its £100 million revenue ambition for 2022, three years after inception.

It will also be expanding its operations into the US this year and plans to open further operations in Europe and the UAE shortly after.

TMG is the catalyst behind its own brands including Olivia’s and Houseology, which it rescued from administration in 2020. The company is also working with the likes of Sports Direct, Bet365 and The White Company.

Handmade to perfection every time...#luxury #lighting #lamp #statement #neutral #modern #tablelamp #interior #interiordesign #interiorstyling #homestyle #homedesign #interiorandhome #homeinterior #homeinspo #interiorsinspiration pic.twitter.com/TPomqOvsZL
— Houseology (@Houseologists) January 14, 2021

Nick Moutter, Founder and CEO at TMG, says: “During the pandemic, we have seen interiors become the new fashion, with people investing in their homes instead of their clothes.”

“The growth in demand is astonishing and shows no sign of slowing.This investment from Fuel Ventures, marks the next step in our journey to scale and help other e-commerce brands to do the same.”

“When I first started Olivia’s in 2019 there was no streamlined technology stack that gave me all of the tools I needed in one platform for one cost and provided a great customer experience.”

“We’re building the technology I wish existed when I started out in e-commerce. As well as working with the big names, we’re powering the next generation of UK e-commerce entrepreneurs to scale their product and brands online without the complexity.”

Mark Pearson, Founder & Managing Partner at Fuel Ventures, comments: “We’re delighted to support Nick and the rest of the team at TMG.”

“The growth of the group has been staggering, they are clearly one of the UK’s most exciting and fastest growing companies. We look forward to supporting them on the rest of their journey.”