HomeFundingBritish home and garden retailer WorldStores secures £8.5 million from Advent and...

British home and garden retailer WorldStores secures £8.5 million from Advent and Balderton

WorldStores, one of the leading UK-based online retailers for home and garden products, has recently announced an investment round led by Advent Venture Partners to support the next stage of its successful expansion (Update – January 2023: The startup seems to be no longer in business under this name and we therefore deactivated the link).

Advent Venture Partners and existing investor Balderton Capital has provided funds of £8.5 million in this particular round, which will enable WorldStores to expand rapidly into some new categories and to develop its delivery and service offering further.

WorldStores was founded back in 2003 by Joe Murray and Richard Tucker, and currently operates 77 specialist web stores including BedroomWorld.co.uk, ShedsWorld.co.uk and others. The company’s online shops seek to offer a wide range of goods in their product category to maximise customer choice. WorldStores already sells around 175,000 different product lines, with most products being available for next-day delivery, and with improved delivery options also coming soon.

As a result of this deal, Mike Chalfen, General Partner of Advent, will join the Board of WorldStores, alongside Mark Evans, a Partner at Balderton Capital. Mike Chalfen said in relation to the investment: “WorldStores is a great fit for our growth investment strategy and one of our focus areas, e-commerce. The business is proven, distinctive, and growing fast. The founding team is outstanding and we’ve already built an incredibly constructive relationship.”

Joe Murray, co-Chief Executive of WorldStores, stated: “This investment allows us to realise our goal of developing WorldStores into a very substantial and profitable business via our winning combination of market-beating choice, great delivery and customer service, and good value for money. With the backing of Advent and Balderton, we are perfectly positioned to achieve our ambition to be the leading online brand for home and garden products.”

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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