Scandinavian fund North-East Venture invest in OPUMO, a growing British design marketplace.
The Danish multi-fund is investing in online design marketplace OPUMO as part of a successful round of funding which includes a crowd raise from over 400 customers.
Esteemed Scandinavian multi-stage fund North-East Venture, backed by a Danish family-run office, has invested in OPUMO – the design marketplace that connects contemporary lifestyle brands with customers from around the world in a unique and content-rich shopping environment. The milestone investment is part of a funding round involving a crowd raise which saw over 400 OPUMO customers support its vision to become the ‘digital department store of the future.’
Martin Lumbye, CEO of North-East Venture, looks forward to exploring the potential of OPUMO’s business model and finely calibrated understanding of the company’s target audiences:
“In OPUMO we’ve found a rare combination of business skills and understanding of the market and a truly exquisite eye for what their audience is looking for. Our hopes and ambitions for OPUMO are very high and we look forward to working closely with the company’s management team to fulfil its potential.”
OPUMO will be the latest sustainably-focused tech business in the North-East Venture portfolio which currently includes the likes of ARKK Copenhagen and Mater – two brands that are already benefiting from being featured on the OPUMO platform.
Building on 18% month on month growth since its launch in March 2017, OPUMO aims to build out its tech and marketing teams in order to revolutionise the user experience and enable its time-poor customers and hand-picked brands to cut through the noise of online shopping and navigate a rapidly changing retail landscape. The funds will also be used to advance OPUMO’s editorial output and membership scheme, facilitating the expansion of the platform’s popular formula of content, community and commerce.
North-East Venture, while global in outlook, is deeply rooted in a Nordic tradition which celebrates simplicity, accessibility and elegance. It’s an ethos which is shared in the sustainable and progressive character of OPUMO – both as a modern-day marketplace and in the selection of design-orientated brands which the platform showcases.
About OPUMO
Founded in 2017 by Nick Ayoub and Harry Beattie, OPUMO is a data-driven, zero-inventory marketplace that enables brands to reach customers looking to discover and shop the latest fashion, art, furniture, home technology and lighting. Powered by a mix of commerce, content, and community, OPUMO allows its audience to discover, shop and explore the world’s greatest design on one single platform.
About North-East Venture
North-East Venture is an international, multi-stage fund. The fund was launched in December 2013 as the venture branch of North-East Family Office – a family-run investment office that focuses on cases of long-term development. Based in Copenhagen, the North-East Venture portfolio primarily contains direct investment in non-listed growth companies within the four verticles of Fintech, online marketplaces, consumer lifestyle and AI and VR/AR. Companies under the North-East Venture umbrella include ARKK Copenhagen, Nord, MATER and Qvest.