Ecommerce firm looks to US after £500k investment
Stockport-based ecommerce platform, Shopblocks, has secured a £500k investment, to grow the business in the UK and beyond.
The cash has come from Greater Manchester Combined Authority’s GM Investment Fund, its existing investor Dow Schofield Watts Angels (DSW Angels), and members of the management team.
The company, which currently employs 20 staff, says it plans to achieve a “fourfold increase in monthly revenues” in the coming year, as well as creating 37 new jobs.
It’s also eyeing the launch of a North American office, to add to its sites in New Zealand and Australia.
“Shopblocks offers much greater flexibility than other platforms which rely on standard templates. Our technology allows users to achieve a ‘custom-built’ look at a fraction of the cost,” said Shopblocks CEO and Founder, Kevin Jones.
“As more people discover the benefits, we are continuing to win customers from the bigger platforms. This latest funding round will support us in our mission to become the leading website platform in the UK and build our presence worldwide.”
Jones founded the firm in 2015, having previously been Digital Director of Tecmark UK.
Shopblocks lets companies create their own website, from a single homepage, through to a complete online store. It says that the technology, which was developed over 5 years, offers “greater flexibility” than template-based platforms.
The company received an initial £350,000 investment by DSW Angels in October 2018.
“Shopblocks’ success lies in its unique technology. We recognised its potential with our initial investment last year, and the company has since made rapid progress and started to make a real impact in the market. We are delighted to welcome GMIF in this latest funding round, which will help propel its further growth,” added David Smith, who heads DSW Angels.