Sweden’s population, the largest in Scandinavia, is around 9.6 million by 2013 figures. And almost half of its 7-70 years old people are members of sports clubs, most being active members, that is, exercising the particular sports themselves, not only watching and supporting it. This kind of love applies to all Scandinavian countries, which, apparently, is the stimulus for UK-based flash sales website SportPursuit who eyes the region for growth after receiving £5 million (around $8.2 million) in Series B funding.
The investment is led by London-based DFJ Esprit with the participation of Silicon Valley Bank and four individual angel investors, according to TechCrunch. This increases the total funding raised so far to 6.4 million.
Founded by Victoria Walton, Adam Pikett, Rhys Jones in late 2011, the idea behind SportsPursuit stems from difficulty and costliness of getting a sports/outdoor gear and stuff that fit best to your needs and soul. Three guys started the site to offer clients discover great sports products at great prices, including major brands as well as innovative cutting edge, specialty gear.
The site today offers time-limited campaigns from a huge set of brands exceeding 600 in number. It’s kind of e-commerce site that you can’t help checking often to catch the perfect commodity you are planning to invest in. Whether it’s snow boots or a front light for your mountain bike, these are kind of things you passionately make research before buying and just don’t care about waiting for the best option. That’s why a flash sales site like SportPursuit could pile up a very strong membership of a million people, and still be growing and successful.
With the new funding, the company will certainly enlarge its product catalogue and expand across mainland Europe, starting with Scandinavian markets (Sweden, Finland, Norway, Denmark, Iceland) from where it will most probably add new local brands. Already delivering to most of the EU zone, SportsPursuit’s expansion will naturally provide another channel for specialist brands from the region to reach to a larger geography.