Ownership of brand discovery platform Trouva trades hands again

Acquired by MADE in May of 2022, Trouva now finds a new owner in former SwiftKey co-founder's new venture, Re:store
Ownership of brand discovery platform Trouva trades hands again

London-based Trouva has been acquired again, this time with ownership changes hands from Next via its acquisition of MADE to Cambridge-based startup Re:store. Terms of the deal remain undisclosed.

Trouva is an online marketplace focused on highlighting independent brick-and-mortar boutique businesses and brands, with a particular focus on housewares, fashion, and lifestyle.

Launched in 2015, Trouva counts over 650 featured retailers hailing from across Europe and reports shipping to 38 countries over the course of 2022.

Back in May of 2022 when MADE acquired Trouva the aim was “to efficiently scale its curated marketplace offering, and avoid some anticipated capex spend. Total cash flow on the combined acquisition consideration and capex is now expected to be £13-18 million for 2022, compared to previous guidance of £15-20 million. The acquisition will be fully funded by cash and is expected to deliver a strong return on investment.” 

Prior to the MADE acquisition, Trouva had raised $41.1 million over the course of five funding rounds via investors including Octopus Ventures, Downing Ventures, C4 Ventures, LocalGlobe, Index Ventures, and Playfair Capital.

Re:store was co-founded by Jon Reynolds (previously CEO and co-founder of SwiftKey) and Siling Tan in 2020 with the goal of enabling a human connection online through a personalised retail experience.

The thinking is reasonably straightforward: put a widget on your website and when a new shopper comes to visit they click straight through to your profile. From here, said shopper can learn all about you and your business, and if so desired, can even set up a video call to find out more. 

Hence, the rationale behind the acquisition of Trouva and its 650+ relationships with independent retailers.

“We’re excited by the opportunity to acquire Trouva and introduce our social commerce technology to Trouva’s fantastic boutiques and brands,” commented Reynolds. “We believe the future lies in enabling deeper connection and community online with authentic and passionate sellers, like those on the Trouva marketplace. We look forward to working with the Trouva team on delivering this shared vision and providing a fresh experience for independent retailers and their customers.”

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.