Floom’s founder, Lana Elie, is working with Interpath to evaluate strategic possibilities for the company she founded in 2016.
After receiving millions of pounds from major venture capitalists, one of the most well-known online florists in the United Kingdom is seeking further funding.
Floom has hired Interpath consultants to assist it with strategic options, which may include a sale.
Floom operates in the United Kingdom and the United States, providing a trading platform for florists and a marketplace for customers to purchase from independent flower sellers.
The company, formed in 2016, reportedly has close to 250,000 customers.
Information distributed to possible investors under the codename Project Neel reveals that Floom lost close to £2 million last year, a minor increase from the £1.4 million loss it incurred the previous year.
It competes with Interflora and Bloom & Wild.
In 2018, the company raised £2 million from investors including Firstminute Capital.
Tom Singh, the creator of New Look, and former executives from firms such as Just Eat and The Hut Group were also investors.
Tuesday, it was unclear how much additional funding the organization was seeking and with whom it was in discussions.
Floom’s founder and CEO, Lana Elie, noted in an email, “We have engaged Interpath Advisory to assist Floom in securing funding to support our next phase of expansion.”
