Receiving its first funding round, Lazy Flora is looking to build a new e-commerce platform and increase its marketing – bringing handpicked plants straight to its customers’ doors.
Nottingham-based, Lazy Flora, has secured £500,000 from venture capital firm, Midven through the Midlands Engine Investment Fund (MEIF) in a deal that will create over 20 new jobs over the next three years.
The investment will help to expand Lazy Flora’s marketing efforts – building on its success over the last 12 months which has seen its revenues increase by 600 per cent, following increased demand for its online plant delivery service.
The company will also use the investment to further develop its product range and build advanced e-commerce capabilities. Lazy Flora is also planning to add more than 20 new staff over the next three years, supporting its continued growth and meeting customer demand.
Lazy Flora was founded by Claire Ransom in 2017. After living in city apartments, but still having a desire to bring plants into her home and balcony space, Ransom was faced with the challenge of finding good quality plants online.
Claire Ransom, Lazy Flora Founder, said, “We are absolutely delighted to have received this game-changing investment from Midven. The Lazy Flora family is a close-knit, passionate team, who have been dreaming big and taking decisive action for the past three years. We have the beginnings of a truly exceptional team and product and are so excited to now be able to execute the ambitious plans we have for the business.”
Roger Wood, Director at Midven, said, “Having established itself in a sphere that is disrupting the traditional customer journey in the world of plants, Lazy Flora is a great example of a business that has a clear strategy to accelerate its growth journey. Claire is a passionate and ambitious founder, and we look forward to working with her to make the business a great success.”
Sajeeda Rose, Chief Executive, D2N2 LEP, said: “I’m delighted to see the Midlands Engine Investment Fund supporting dynamic and ambitious businesses. Lazy Flora is a great example of a firm innovating and adapting to accelerate growth and provide job opportunities, supporting our collective ambitions to rebuild and grow our economy.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.