Achica reportedly courting new investors

Achica is allegedly trying to lure in new investors. Established five years ago by one of the founders of Asos, the online fashion retailer would have commissioned Jefferies with the search of a new financial partner.

Sky News reported that Achica is working with bankers at Jefferies on its search for new funding, according to insiders. The British TV channel understands that Achica, a club which offers discounts on a wide range of homeware and lifestyle products, has approached a number of private equity firms about taking a stake in the business.

Achica has 4.5 million registered members, while its existing shareholders include Balderton Capital, the early-stage investor in companies such as Betfair and Wonga, and Lansdowne Partners.

One insider said that Balderton was considering reducing its stake in Achica, although both parties declined to comment, reported Sky News over the weekend.

Achica incurred into a 7 million pounds in 2013, down however from the previous year’s 10 million pounds loss.