Online florist Floom aims to blossom with capital injection
One of the UK’s best-known online florists is hunting for fresh capital after raising millions of pounds from prominent venture capital investors.
Sky News understands that Floom has drafted in advisers from Interpath to advise it on strategic options which could include a sale.
Operating in the UK and US, Floom provides a trading platform for florists as well as acting as a marketplace enabling consumers to buy from independent flower-sellers.
The company, founded in 2016, is said to be approaching 250,000 customers.
Information circulated to potential investors under the codename Project Neel suggests that Floom made a loss of close to £2m last year, slightly more than the £1.4m loss it recorded the year before.
It competes with the likes of Interflora and Bloom & Wild.
In 2018, it raised a £2m funding round from investors including Firstminute Capital.
The founder of New Look, Tom Singh, and former executives from companies including Just Eat and The Hut Group were also among the investors.
It was unclear on Tuesday how much additional money it was seeking or which prospective backers it was in discussion with.
Lana Elie, Floom’s founder and chief executive, wrote in an email: “We have engaged Interpath Advisory to support Floom secure investment to support our next stage of growth.”
