was a first-mover in the transition from offline to online furniture sales. The company is now a recognized lifestyle brand across the UK and Western Europe.


Quick Facts

61x Sales Growth From Investment to IPO
7 Additional Countries Launched Post-Investment
$1.1B Initial Public Offering Valuation

Background is a branded, design-first omnichannel retailer. The company develops furniture and homeware products in-house and through collaborations with emerging and established designers and works with manufacturers and craftspeople to deliver those items directly to consumers at affordable prices.




Position As A Household Name in Europe had demonstrated profitable unit economics, capitalizing on the early but massive shift from offline to online furniture sales in the UK. Our capital was raised to aggressively scale marketing and customer acquisition efforts.


Expand's Geographic Footprint and Product Assortment

As’s business model matured and the company established a profitable market leadership position in the UK, we saw an opportunity to replicate this success across Western Europe, while at the same time expanding the product catalog from furniture to a broad assortment of home goods.


Build A Senior Team Capable of Leading A $1B+ Public Company

As grew sales rapidly and rolled out across multiple geographies, the company needed to build a senior leadership team and board capable of managing a leading European home furnishings brand.

Value Created used Level’s initial investment and subsequent follow-on capital to scale from under $10 million to over $550 million in sales. The company expanded into seven new geographies outside the UK over the course of our hold period. To support that rapid international growth, Level helped recruit a world-class management team and Board including a CEO, CFO, CTO, and Chairman, whose collective experience helped lead the company through a period of compounding organic growth at scale and increasing business complexity.

Level supported the business over multiple follow-on financing events, totaling over $100M of invested capital leading up to a public offering on the London Stock Exchange. The business was valued at $1.1B in June 2021. We remain a significant shareholder post-IPO.

Partner Testimonial

“Level Equity has been extremely supportive and a true partner for our business. I don’t think we would be where we are today without having the Level team on our side.”

Philippe Chainieux
Chief Executive Officer
Philippe Chainieux