London-based digital marketplace for florists Floom has raised £2 million in a funding round led by firstminute capital. The startup plans to use the money to continue its expansion in the US, enter a yet unnamed new market, and further develop what it calls “the floristry industry’s first SaaS offering.”
Founded in 2016, Floom is a curated marketplace for independent florists, connecting them with customers across more than 125 countries. The company has stated that its revenue has increased by 463 percent over the past 12 months and projected the sales volume for 2019 at £5 million.
Now the startup is busy developing a “vertically integrated SaaS solution” to empower florists who often lack e-commerce expertise and financial means to scale rapidly. The new platform is expected to include everything “from inventory management and a wholesale shop, to website builders and POS systems – as well as preparing for seasonal peaks with trend data e.g. Valentine’s Day and Mother’s Day,” Floom stated in a press release.
As part of the funding deal, one of the investors, the former CTO of Just Eat Carlos Morgado, is joining Floom’s board.