Patchworks raises a further £1.5m to power European expansion

Retail integration platform Patchworks has received £1.5 million in funding from Gresham House Ventures.

This follows an initial investment of £3.3 million in August last year. Patchworks plans to utilise the new funds to continue its expansion into Europe.

The firm connects key e-commerce systems, including storefronts such as Shopify and BigCommerce, ERPs, CRMs, and fulfilment solutions, allowing retailers to simplify the integration of their technology stack.

Founded in 2014, it now has more than 200 customers.

Over the past year, it has partnered with the likes of ABYL, Gym+Coffee and Trinny London. They join its existing portfolio of brands such as Huel, Gymshark, Lounge Underwear, Castore, Cox & Cox and Simba Sleep.

Jack Humphreys, Chief Operating Officer at Lounge Underwear, says: “We’ve been working with Patchworks for a few years now, utilising both their iPaaS and their new Stockr product. It’s great to see them grow and start to reach their full potential.”

“They have supported our growth in the time we’ve been working with them and really helped us get to where we are today, including supporting us to grow 215%, and placing 6th in this year's The Sunday Times Hundred 2022.”

James Pennington, Chief Financial Officer at Patchworks, says: “The switch to online has been a real catalyst for our growth.”

“As we head into more challenging financial times, the need to operate more efficiently by optimising existing technology stacks will be more important than ever.”

“The importance of being able to integrate these stacks quickly and efficiently, and use the data they provide to make business critical decisions accurately will be paramount.”

“We are delighted with what we’ve achieved over the last year and with the latest investment from Gresham House Ventures, accelerating our market growth will be a big focus for us over the next year.”

Rupesh Patel, Investment Director at Gresham House Ventures, comments: “Middleware enables retailers to grow and save, while choosing the best tools for the job - making Patchworks the perfect business to support companies developing great customer journeys.”

“We’re delighted to continue our investment with them as they scale up. Exciting times!”