Series B21 October 2019

SPOKE secures £8.5m in Series B funding from BGF to scale international and product growth

The menswear brand has raised £8.5m in a Series B round led by BGF to fund international expansion and product development.

£8.5MSeries B

SPOKE is an on demand menswear brand offering customised legwear through a proprietary fit finder platform. The company finishes orders by hand in its Yorkshire workshop to eliminate excess stock.

SPOKE has raised £8.5m in a Series B funding round led by BGF, with additional participation from Forward Partners, Oxford Capital, and 24 Haymarket. The capital will be deployed to accelerate technology upgrades, product innovation, brand building, and international expansion.

Founded in 2014, the company applies data-driven sizing and inventory management to menswear. International sales currently account for 15 percent of total revenues, with the United States serving as a primary focus for overseas growth.

Incoming backer BGF led the transaction following strong customer retention metrics and early traction in international markets. The fresh funds position the business to scale its operations and extend its reach into new geographies.

From the founder

"We believe that fit matters most"

Ben Farren

CEO and founder at SPOKE

Investor perspective

"There are currently seismic shifts in retail and the menswear market – and SPOKE is a clear emerging leader in the space. We were very impressed with Ben and the management team, the quality of the product and the strength of the brand that has been created in such a short period of time. This was most evident in brand loyalty, with an astonishing repeat purchase rate, and early success in the US."

Tim Rea

head of early stage, BGF