Britain’s largest shopping club for sportsmen and women has raised £5m from a clutch of high-profile investors to fund expansion.
SportPursuit, founded in 2011 by Rhys Jones, Victoria Walton, Luke Pikett and his brother Adam, sells more than 600 of the world’s top sports brands through its website. It has 45 staff and is based in Clapham, southwest London. A minority stake is being sold to raise the money.
The funding round was led by the venture capital firm DFJ Esprit, with participation from Silicon Valley Bank. Entrepreneurs William Reeve, co-founder of Lovefilm, Alex Chesterman, founder of Zoopla, and Alex Saint, chief executive of Secret Escapes, are among the lead angel investors.
The business is majority-owned by its bosses, led by chief executive Adam Pikett.
“We are creating new demand and growing the market,” he said. The website’s membership recently exceeded 1m.