Written by Alex Bredeen
MOOT close £12 million credit facility from Espresso Capital
Espresso Capital announced today that it has provided MOOT, a global ecommerce technology platform, with a £12 million credit facility. The company will use the funds to drive growth in the UK and abroad.
Who are MOOT?
MOOT is an innovative ecommerce technology company with a mission to provide end-to-end solutions to retail brands, looking to scale their direct-to-consumer offering, both multi-channel and internationally. The company's proprietary technology typically services brands that have outgrown the capabilities of the likes of Shopify and WooCommerce. MOOT provides an EaaS platform for other e-commerce companies while also selling its own luxury furniture e-commerce brand, Olivia’s, direct to consumers.
What will this £12 million credit facility do for Moot?
“Venture debt offers the non-dilutive growth we were looking for to help scale our business,” said MOOT CEO, Nick Moutter. “With the capital from Espresso, we’re able to expand the functionality of our ecommerce-as-a-service (EaaS) stack to create hyper-personalized experiences for consumers, while also adding 80 new roles and growing the business through strategic M&A activity overseas.”
“MOOT has a great team, strong unit economics, and a track record of rapid growth,” said Espresso Capital Managing Director Will Hutchins. “The company has a robust pipeline and we’re excited to be partnering with the company and their investors as they execute on their strategy to further scale and build the business. ”
“Espresso is truly leading the way in modern day venture debt lending,” said Moutter. “They run a seamless process, are great to work with, and offer facilities that are clearly designed to be founder friendly. We look forward to growing the business together with them.”
“We’re delighted to have introduced Nick to the team at Espresso,” said Mark Pearson, Managing Partner at Fuel Ventures, one of MOOT’s existing investors. “MOOT is a fantastic company and this non-dilutive financing will only help accelerate its goal of providing a multi-channel EaaS platform globally.”