Moot gets a taste of Espresso to serve up more ecommerce brands

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I (half-)promised yesterday (see Of funding rounds – and Inspector Montalbano ) to get back you on the latest funding round for Staffordshire-based ecommerce platform Moot , whose interesting backstory I wrote about in July last year (see Fuel funds Moot ambition to fire Bolt into e-commerce ).

As is so often the case when I write about ‘interesting’ startups, I get a call offering me a therapy session with the founder to explain the error of my ways. And so it was that I spoke to Moot founder and CEO, Nick Moutter, just a few days later, who took me through the rather complicated story.

So let me try to simplify it.

Moot (aka The Moot Group) runs a ‘soup-to-nuts’ outsourced ecommerce service for ‘direct-to-consumer’ brands. A few of these are Moutter’s own businesses, such as a household goods online store, Olivia’s and on-line furnishings retailer Houseology. But most are third-party brands, including Asos, Bosch, French Connection, Timberland and many others. The service runs on Moot’s proprietary platform, Bolt. Moot has its own distribution centres used by its own businesses. At the time, though, third-party brands were only using the Bolt platform while doing their own fulfilment.

When I spoke to Moutter, he was (and still is, according to the PR) targeting £100m in ARR (annualised recurring revenues) though it seems this target has shifted to the end of 2022 rather than the beginning as he was expecting at the time. Since then, Moot has also published its 2020 accounts (14 months to 31/12/20) which show revenues up ten-fold to £5.1m and losses up nearly five-fold to £1.4m. Most of Moot’s revenues derive from sales through its own brands.

And that is precisely the issue facing backers. Currently they are investing in a […]

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