Lough Shore Investments announces seed funding in Northern Irish start-up Yours Florally
Lough Shore Investments has announced seed funding in Northern Irish start-up Yours Florally. Founded by Mary McKimm in 2012, the Belfast-based start-up has already partnered with over 100 retailers on the island of Ireland and achieved record sales in the run-up to this year's Mother’s Day.
Lough Shore Investments has announced a seed investment in Northern Irish start-up Yours Florally. The financial terms of the investment have not been disclosed but the deal will see Lough Shore Investments join a seed round with Belfast-based angel investor and former European head of sales and operations for Google, Stephen Lusty.
Founded by Mary McKimm in 2012, Yours Florally is an integrated SaaS and e-commerce platform for the retail florist industry. The Yours Florally platform allows customers to shop for flowers online, with the delivery and execution of these orders completed through a hand-picked network of local suppliers. This model offers customers a high-end personal service, while providing local retailers with an online e-commerce engine without the monthly subscriptions, the high commission costs, expensive point-of-sale materials and the poor payment terms offered by the larger, more traditional industry incumbents. Yours Florally has already over 100 partner florists on the island of Ireland with plans to announce the first wave of partnerships in the UK in the coming months.
Speaking following the announcement, Lough Shore Investments founder and principal partner, Danny Moore, said: “We’re delighted to announce our involvement in Yours Florally and welcome Mary and her team to the wider Lough Shore Investments portfolio. Yours Florally as a platform is scaling incredibly quickly and this investment will see them begin to build the network in the UK and develop the platform further on mobile.
“The attraction of Yours Florally was in their ability to disrupt what is clearly a broken industry, dominated by a small number of very traditional network operators who are focused on ‘bricks-and-mortar’ stores approach. Previously, in order to remain competitive, local traders were forced to join these larger networks and agree to the often onerous demands that came with them. From our very first conversation with Yours Florally, it was clear that they could put the power back in the hands of these disenfranchised local traders whilst offering them an online platform to compete in what is a $7bn per annum market. It’s a credible, more innovative network alternative at a fraction of the cost.
“What has also been particularly exciting is that in the short period of time we’ve been working with Mary and her team, Yours Florally has achieved incredible traction both in Northern Ireland and Ireland. The team already have a full network of suppliers in Northern Ireland and expect to have similar in the Republic from the 1st of April. What’s clear is that we’re not alone in thinking the Yours Florally model could prove incredible disruption. We also expect to see similar adoptions rates in the UK as we expand there through 2013. It should be an exciting year.”
Speaking following the announcement, Yours Florally founder Mary McKimm said: “We’re absolutely delighted to have secured investment from Danny Moore and Stephen Lusty, two of Northern Ireland's leading angel investors. In particular, it’s a thrill to have access to Danny's experience in building successful and scalable technology-led start-ups, while Stephen brings a vast knowledge in the areas of on-line marketing, e-commerce and data analysis.”