Beauty & fashion technology platform secures £2.5 million to fuel growth

Refined Networks, the London-based technology platform that connects brands to leading digital retailers, has announced the completion of its £2.5 million Series A funding to enable international expansion.

This investment was backed by Souter Investments in conjunction with the Rueff family and existing seed round investors, including former TFG London CEO, Ben Barnett, and JJill Inc Chair, Michael Rahamim.

Ian Wallis, Co-Founder of Refined Networks, said: "I am delighted to welcome our new shareholders, who join us at such an exciting time in our growth journey. The current year will see a further acceleration through new brands, platforms, marketplaces and verticals in the UK market, as well as growing our existing brand partners locally and into new geographies."

Marketplaces are the fastest-growing retail channel, offering brands the ability to diversify sales and tap into a huge audience. Refined Networks provides brand partners with the technology, logistics and market expertise to establish and grow their online sales on leading curated marketplaces. This minimises stock risk by enabling a single pool of inventory for easy, local distribution across multiple channels.

Since launching in September 2021, Refined Networks has demonstrated the value of its scalable technology and logistics solution across all categories from fashion to beauty.

After a year of exceptional growth, the 'launchpad for international brands' is now working with 26 businesses. The company’s aim is to drive its cross-border online sales through partners including John Lewis, Next, Selfridges and Harvey Nichols.

The funding round will enable Refined Networks to launch internationally in Q3 of 2023, taking its portfolio of UK brands into marketplaces across Europe, North America and the Middle East.

Ben Barnett, Chair of Refined Networks, commented: "Refined Networks has established a unique route to market for international fashion brands that is rapidly gaining traction. I am excited to work with the platform’s founders and senior leadership team to take their exceptional brand portfolio forwards."