The e-commerce marketplace secures backing to champion independent design lifestyle, art and homeware marketplace DesignSnitch has closed its pre-seed funding round, backed by a number of investors.
The application-only marketplace, which has its headquarters in Birmingham’s Jewellery Quarter, partners with independent creators and brands from the UK, Europe and beyond, launching exclusive product lines you won’t find anywhere else.
Led by DesignSnitch founder Andrew Waldron, the round was privately raised through angel investors in Waldron’s own network. It was not publicised, and did not use crowdfunding platforms or venture capital. A further funding round will open in the coming weeks.
“We built DesignSnitch by taking the time to understand creators, their stories and their products, alongside consumer behaviour. I raised funding the same way. Getting investment is a relationship-building exercise. Every investor knows exactly what we’re building and why. Your investors need to understand you as a founder, and believe in the opportunity being presented to them. That takes time,” says Waldron.
He continues: “The same goes for the team. This all started with me at the dining room table, as the only full-time person. Fractional help came first, then equity brought in the right specialists as partners. Those guys are still here, and now we’re building a team around them. Version two is what all of this has been working toward.”
Every creator on DesignSnitch is selected for their design-led products, ethical processes and extraordinary talent – brought together for an audience who wants less mass market, more considered purchasing. It was born out of Waldron’s own love of design and craftsmanship, and his frustration at how difficult and time-consuming it has become to find well-made, meaningful products online.
The first brand application release drew over 450 applications globally. The successful applicants included creators who have collaborated with the likes of Prada, Cartier and Michelin-starred restaurants, and they will continue with DesignSnitch into the next phase.
“We’ve spent a lot of time over the last six months bringing in the right people who can help us realise the next stage of DesignSnitch, with version two of the platform launching later this year.” concludes Waldron.
Follow the Journey @design.snitch.
