A website specialising in “flash sales” of sportswear has raised £9.5 million from investors including Scottish Equity Partners (SEP).
The private equity firm was joined by Grafton Capital and existing investor Draper Esprit in the funding round, which is aimed at accelerating SportPursuit’s international expansion and developing new services.
London-based SportPursuit, launched in 2011, runs week-long deals from outdoor goods and sportswear brands including Berghaus, Garmin, GoPro, Marmot and Under Armour, offering discounts of up to 70 per cent.
Chief executive and co-founder Adam Pikett said: “This investment enables us to accelerate our expansion and really capitalise on our mission to be the pan-European market leader.
“It allows us to invest in delivering a truly local proposition in international territories and focus on doing the fundamentals really well; great offers from great brands backed up by a great customer experience.”
SEP partner Stuart Paterson added: “We are particularly impressed with the dynamic and talented management team at SportPursuit and the rapid growth they have achieved to date.
“Their strong background in retail strategy and their clear focus on the premium end of the sports clearance market makes them well placed to capitalise on their current position in the UK and to translate that globally.”
The deal has seen Paterson join the board of SportPursuit alongside Oliver Thomas, co-founder and partner at Grafton Capital.