Flash sales site SportPursuit secures 9.5 million pounds in funding

A fast-growing shopping club for sportsmen and women has secured a 9.5 million pounds injection to fuel its overseas expansion.

SportPursuit, a four-year-old London business that sells discounted sportswear through online “flash” sales, has secured the cash from Scottish Equity Partners, Grafton Capital and existing investor Draper Esprit.

The company offers 1,000 sports brands, including Asics and Under Armour, at discounts of up to 70 percent. The new money will be used to expand the company’s 40 overseas markets. “It’s basically Black Friday every day,” said Adam Pikett, one of SportPursuit’s four co-founders and the chief executive.

Early investors included William Reeve, co-founder of Lovefilm; Alex Chesterman, founder of Zoopla; and Alex Saint, chief executive of Secret Escapes. SportPursuit made sales of 10 million pounds last year and expects 15 million pounds for this year. It has 55 staff and plans to keep hiring.