Desi High Street, an online marketplace that connects customers with ethnic/desi/South Asian goods retailers and businesses, launched an equity crowdfunding on Crowdcube and is seeking £100,000 in funding.
The marketplace stated it considers itself one of the first websites to provide a one-stop-shop for British Asian goods and it provides retailers with an easy to use, affordable e-commerce platform and access to a growing customer base with onboarding support. The company explained
“We are an online marketplace, put simply selling partners build their shops on Desi High Street and we do the marketing to drive customers to it. We don’t charge them to build or to upload/list an item. When an item is sold the selling partners are notified by our automated system and then they just pack and post the goods to the customer.”
Since launching its prototype website in December 2015, Desi High Street was featured in Internet Retailing, BQ Live, Real Business, and Ready Business. It was also dubbed winner of a £1000 pitching prize judged by a panel including the CEO of RBS, shortlisted as an Entrepreneur Rising Star in the WeAreTheCity Awards, a finalist in The Times Ready Business Mentoring competition, and PitchFest Finalist at VentureFest Yorkshire. Desi High Street’s team stated:
Funds from the Crowdcube campaign will be used for specific development needs to expand the capacity of Desi High Street’s platform, along with recruiting a team with IT, marketing and business development skills. Since its debut, the initiative has secured more than £15,000 from over 20 investors. It is set to close at the end of February.
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