SecretSales secures £6.3m investment

SecretSales, the leading independent private

shopping club in the UK, has announced that it has secured an investment of £6.3m from a syndicate of investors including Doughty Hanson, Pentech Ventures and OCP Innovation.

Launched in 2007, the site helps brands clear their excess inventory through short online sales campaigns, which are promoted daily to its private members. This round of funding will allow the company, which already has almost 2m engaged members, to accelerate its growth and reach within the UK, with an emphasis on sourcing, marketing and technology.

“The private sales club model has created some amazing companies in continental Europe and in the US, but the UK is still an opportunity,” said Ivan Farneti, Partner at Doughty Hanson Technology Ventures. “We believe the team at SecretSales has done a great job so far with limited resources. We have now provided a solid financial platform to allow SecretSales to dominate this fast-growing market.”

“With tremendous year-on-year growth, at SecretSales we quietly pride ourselves on being a genuinely relevant, long-term partner for brands and great consumer business. We are excited to work alongside a diverse blend of seasoned investors to realise our strategic growth plan, each bringing qualified experience ranging from ecommerce, technology, marketing and branding, as well as a deep global network of contacts,” added Nish Kukadia, CEO of SecretSales.