MMC £1.2m investment in e-trader

Bare Partners advised the management team of e-trader on its business strategy and assisted in securing a £1.2m equity investment from MMC Ventures Limited (MMC).

e-trader specialises in the clearance and overstock sector by offering retailers and manufacturers access to both the trade and consumer markets via one single easy-to-use online platform. MMC’s investment enabled e-trader to complete its acquisition of Koodos which adds a designer brand fashion clearance channel to the group’s already successful business stockshifters.com, the UK’s leading online trade marketplace.

Ben Richardson, Investment Director for MMC commented: “MMC saw the opportunity to back a proven entrepreneur and help him develop a business with a new proposition in a large and fragmented market. The management team has impressed us with their progress and we are pleased to support them in their next phase of growth.”

Bare Partners worked with the management team for 12 months providing growth consultancy advice and identifying a strong plan that could be marketed in order to secure a significant equity investment. Paul Kingsley was part of the management team and remained with the business for 12 months following the acquisition to help implement the business strategy.