Menu visibility control

Video

Events

Startup Surgery

Most Recent

News

Iris Capital launches €250m European tech investment fund

News

Startup Weekly: Welsh tech accelerator calls for applications, Virgin StartUp partners with WeWork and more

Tech City Voices

Culture. There’s no app for that, Kalanick

Press Releases

‘Connected finance’ app Curve hits £50m spend ahead of UK launch
“Coffee, networking and productivity”: Workspace disruptor ‘Lounge’ launches in London
Kompli-Global’s Technology Will Make Life Harder for Money Launderers

London sharing economy platform Fat Lama raises £1m Seed round

Fat Lama Team
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

London-based startup Fat Lama has raised £1m from a collection of angel investors, adding to the £150,000 pre-Seed it raised in October 2016.

When pushed on who provided the investment, the firm said it was a group of individuals including a “successful tech entrepreneur … an international media executive and a very well-known executive at a global investment bank”.

Fat Lama, which launched three months ago, is a peer-to-peer rental site enabling people to loan and borrow belongings, such as lawn mowers or cameras.

A £4.67m VC round, Uber’s CEO steps down, Verizon acquires Yahoo, and more in The Week in Tech

All items listed on the site are fully insured, due to an insurance agreement underwritten by Hiscox Ltd.

The company claims some of its users make more than £500 per month via the platform.

Fat Lama CEO Chaz Englander said: “The rapid growth we’ve seen across users, listings and revenue is proof that people are looking to a more efficient model of ownership.

“Fat Lama offers an alternative to those concerned by overconsumption. Many people believe our planet is straining under the weight of our throwaway consumer culture – so much so that sharing possessions is not a luxury, but a necessity,” he added.

Englander, who previously worked in early-stage investment, co-founded the company with Rosie Dallas, who is a marketing and branding specialist, and Owen Turner-Major, who is a developer.

The CEO said he sees the company’s latest raise as a key demonstration of the rapid growth of UK sharing economy in spite of Brexit funding fears for startups.

“The hunger for UK sharing economy startups has never been stronger,” he said.

Enter your email address to receive updates straight to your inbox

* indicates required
Send me news on...
twitterlinkedinFacebookgoogle_plustwitterlinkedinFacebookgoogle_plus

Editor's picks

Paris

Iris Capital launches €250m European tech investment fund
posted 10 hours ago

Startup Weekly: Welsh tech accelerator calls for applications, Virgin StartUp partners with WeWork and more
posted 13 hours ago

Culture. There’s no app for that, Kalanick
posted 15 hours ago

startup life

Uber’s CEO resigns, over £368m in UK tech funding, a new $3.3bn fund and more in The Week in Tech
posted 18 hours ago

inploi-co-founders

EXCLUSIVE: London-based Inploi raises £500,000, brings total to £1m
posted on June 22, 2017

Peter-Smith-Nic-Cary-Feb-2016

UK-founded tech startup Blockchain secures $40m Series B
posted on June 22, 2017