Weâ€™ve got some news Iâ€™ve been wanting to share for a while that weâ€™re hugely excited to announce. In what some people describe as the toughest economic times since World War II, Glasses Direct has secured Â£10m in working capital funding which we will be using to expand our business. With the world class management team that we’ve built and this further capital we’ve brought in, we’re all set on our way to becoming a household brand, something that was one of my founding visions.
The new funding is from an international group of investors. Our newest investor is Munich based Acton Capital Partners, joined by existing investors Index Ventures of London/Geneva and Boston based Highland Capital Partners who have both reinvested in our business along with some of the early investors making a contribution to the round, including my own family.
We’ll be using the money to invest in our roots. For the first three months this year in the UK weâ€™ve seen our best performance ever for the company. Weâ€™ve shipped tens of thousands of pairs of glasses to our UK customers; we’ve launched new ranges; new ways of buying and trialing our glasses; and we’re looking at ways of innovating in online commerce across the board. As well as reaching new customers internationally weâ€™re also going to be using our new funding as capital to expand our UK business.
Thanks to the whole of the team here at Glasses Direct too. Weâ€™ve been a family since we started five years ago in Wiltshire.