SaaS for e-commerce: £5M funding for Staffordshire startup The Moot Group

Setting up and growing an e-commerce brand is not the lean process. Staffordshire-based e-commerce technology startup The Moot Group (TMG) wants to make this fragmented process simple. From having to work with dozens of providers – website to logistics to tracking – they provide a unified platform that consolidates the entire process and calls themselves ‘E-commerce as a Service.’ 

Now the SaaS startup has secured £5 million in seed funding, led by Fuel Ventures. Their founder, Nick Moutter, tells UKTN that the investment tees us up for the next stage of growth. 

“We will continue to build on our own highly successful interior brands and support our third-party customers with bespoke E-commerce technology. We also have our sights on growing the business overseas too, so watch this space.”

Fuel Ventures, which is an early-stage UK venture capital investing in fast-growing digital tech businesses, also unveiled £45M in funds for early-stage tech startups in the country. As per the company press release, the fund will be distributed in the next 12 months to over 60 early-stage digital startups. At the same time, Fuel Ventures also announced its commitment to extend support to pre-seed companies through this new fund. 

At the same time, Nick is fast becoming one of the UK’s most successful E-commerce and adtech entrepreneurs, having achieved success with his first business Admedo, the unified programmatic marketing platform. Following the investment, TMG welcomes to its advisory board Richard Chapple, former GymShark exec and Founder of The Growth Foundation, and Mark Pearson, of Fuel Ventures. 

In the company press release, Mark Pearson, Founder & Managing Partner at Fuel Ventures said: “We’re delighted to support Nick and the rest of the team at TMG. The growth of the group has been staggering, they are one of the UK’s most exciting and fastest-growing companies.”

TMG was founded in 2019 as a single homeware brand called Olivia’s. Headquartered in Stafford, Olivia’s is an online furniture retailer that sells home furnishing products, lighting accessories, and more. 

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