BeCheeky.com (United Kingdom) - Dec 2007

unquote
01 December 2007

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In a first institutional funding round, YFM Group has led a £630,000 investment into BeCheeky. com, an online lingerie retailer. YFM invested £200,000 in the round from its South West Ventures Fund, with the balance of the equity being provided by private investors including members of the South West Angel and Investor Network (SWAIN). YFM was attracted to the quality of the company’s management team, as well as to the cost-efficient business model. The new capital is being used to invest in new products and a new stock control system, launch a refreshed website and relocate to new premises in Poole.

Company

BeCheeky.com was founded in 2004 by serial entrepreneurs and husband and wife team James and Sarah Akin-Smith. The business specialises in providing hard-to-find and carefully selected mainstream lingerie, with several exclusive distribution deals in place with leading brands. It currently offers more than 1,200 individual lines from brands such as Bracli, Lola Luna, Morgan, Princess Tam Tam and Sensualle and attracts around 130,000 individual visitors a month, generating turnover in excess of £400,000. The company currently employs 12 staff.

People

Nick Simmonds led the transaction for YFM. Colin Black led the investment for SWAIN and will join the BeCheeky board. As a result of the funding, the business has also hired Matthew Stevens, formerly marketing director of Wiggle.co.uk, as its new head of marketing.

Advisers

Company - Cooke Matheson, Jonathon Cooke (Legal)Equity - Veale Wasbrough, Neena Mallord (Legal)

Sourced from: UK & Ireland unquote" 360 (Jan 2008)