Refined Networks, the London-based technology platform for cross-border digital commerce, closed a £2.5 million Series A round of funding to fuel international expansion. 

WHO: Refined Networks was co-founded in 2021 by Sune Bjerregard (former CEO of Masai) and Ian Wallis (former Global Retail Director at Phase Eight) and is chaired by Ben Barnett (former CEO of TFG London, the owner of the Hobbs, Whistles, and Phase Eight brands). The business provides brand partners with a turnkey solution of technology, logistics, and market expertise to establish and grow their online sales on leading curated marketplaces and online platforms, minimizing stock risk by enabling a single inventory pool for easy, local distribution across multiple channels.

WHY: The funding will enable Refined Networks to launch internationally later this year. It will take its existing brand portfolio and a curated selection of UK brands into platforms and marketplaces across Europe, North America, and the Middle East.

IN THEIR OWN WORDS: Ian Wallis, co-founder of Refined Networks, said, "I am delighted to welcome our new shareholders, who join us at such an exciting time in our growth journey. The current year will see a further acceleration through new brands, platforms, marketplaces and verticals in the UK market, as well as growing our existing brand partners locally and into new geographies."

Sune Bjerrregard, co-founder of Refined Networks, added, “Refined Networks enables consumer brands to grow their international trade through our scalable technology and logistics solution that connects them with our network of curated platforms and marketplaces. We can drive significant sales growth for our brand partners by leveraging our relationships and industry expertise alongside the inventory, channel and logistics tools needed to succeed.”

Ben Barnett, Chair of Refined Networks, commented, “Refined Networks has established a unique route to market for international fashion brands that is rapidly gaining traction. I am excited to work with the platform’s founders and senior leadership team to take their exceptional brand portfolio forwards.”

DETAILS:

• Refined Networks closed a £2.5 million Series A funding round backed by Souter Investments with participation by the Rueff family and existing seed round investors, former TFG London CEO Ben Barnett, and J. Jill Inc. Chair Michael Rahamim.
• The investment builds on an exceptional year of growth, with 26 international fashion and beauty brands working with Refined Networks to drive cross-border online sales through partners including John Lewis, Next, Selfridges, and Harvey Nichols.
• Shoosmiths acted as legal advisors to Refined Networks and CMS acted as legal advisors to Souter Investments.