Narchie raised £475K in a pre-seed funding round led by Episode 1 Ventures

Narchie, a UK-based startup building a social marketplace application dedicated to homeware, announced completing a £475K ($650k) round in pre-seed funding.

The money was raised from investors from Britain led by Episode 1 Ventures with participation from Simon Murdoch, Damien Lane and Adrian Lloyd.

The proceeds will bed used to grow the product, engineering and community support teams.

Narchie, founded in 2021 by CEO Harriet Wetton, develops a social marketplace app for homeware that enables users to create a shoppable profile that suits their individual aesthetic; listing items on a moodboard-style scrollable profile feed. The explore page will show items and posts based on what each user likes, whilst highlighting posts from those with high engagement, and profiles similar to accounts they follow. To sell, upload and list items, the app will charge sellers a 10% fee on the total listing amount, including shipping costs.

Narchie is yet to be launched and says it has a waiting list of 5000 users.