BGF Ventures leads £3.2m round for ToucanBox

The firm invested £2.7m in the deal, which will enable ToucanBox to expand internationally and invest in new product development.

The transaction marks the seventh deal for Business Growth Fund’s dedicated venture vehicle, which launched with an investment capacity of £200m in June 2015.

Earlier this year, the fund took part in a $6.5m series-A for mobile app promotional platform Tapdaq and a $30m round for cloud communication business NewVoiceMedia. It has also previously backed other subscription-based companies, investing £3m in recipe box delivery business Gousto in December 2015.

Company
Founded in 2012 and headquartered in London, ToucanBox produces and delivers arts and crafts kits for children aged three to eight. The company, which operates a subscription-based model, says it has grown by 20% month-on-month since its foundation.

People
BGF Ventures – Simon Calver (founding partner).
ToucanBox – Virginie Charlès-Dear (CEO, founder); Sara Barokas (founder, vice-president of product).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• BGF (Business Growth Fund)
• United Kingdom
• Venture