London/Nottingham-based e-commerce integration platform Patchworks has added another £2 million in capital to its coffers; providing the firm with further fuel to drive innovation and the delivery of new features, as well as international expansion plans.
£1.75 million of the £2 million round was provided by existing, and until now sole backer, Gresham House Ventures in the form of a convertible loan note. Since mid-2021, Gresham House Ventures has invested £10.5 million in Patchworks.
Founded in 2014, Patchworks offers a range of e-commerce industry integrations and services that help clients including Huel, Gymshark, Lounge Underwear, Castore, Cox & Cox, and Simba Sleep connect various systems such as shopfront, ERP, CRM, and warehouse management tools, ultimately streamlining their technology stack and overall operations.
According to the company, in 2022 Patchwork clients processed over 300 million transactions at an estimated £2 billion worth of orders.
On the new capital, relatively newly installed CEO Jim Herbert commented:
“Our relationship with Gresham House Ventures has already played a significant role in driving our recent success. This latest investment positions Patchworks for even stronger growth in 2024, with our platform becoming increasingly established as the most effective solution on the market to seamlessly integrate complex systems with minimal effort.”
Lead image: aleksandarlittlewolf