Thrift+ secures £950k from Triple Point Impact EIS fund and angels to scale operations
The online charity retailer raised the impact investment to expand its clothing donation service amid rising demand.
Thrift+ operates an online charity retail platform that manages clothing donations and online sales for second-hand items. Sales proceeds are shared between the company, the donor, and selected charities.
Thrift+ has secured £950k in an impact investment round led by the Triple Point Impact EIS fund. The capital injection also drew backing from angel investors associated with Green Angel Syndicate and ClearlySo Impact Angels.
The online charity retailer has experienced increased demand for its nationwide home collection service as pandemic restrictions keep donors away from traditional high street charity shops. The new capital will be directed towards scaling internal operations as the business transitions to its own dedicated warehouse facility.
From the founder
"Our home collection service is allowing people to continue to donate while staying safe at home, and to choose the specific cause that resonates with them right now."
Joe Metcalfe
CEO at Thrift+
Use of funds
- 01Scale operations