Digital commerce specialist raises £2m and rebrands in next phase of growth

Shopblocks, the Stockport-based digital commerce business, has raised £2m from NPIF II-Mercia Equity Finance, managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II), Mercia’s EIS funds, the Greater Manchester Combined Authority (GMCA) and private investors.

The latest investment comes as Shopblocks rebrands to Symphony Commerce. 

Founded in 2015, its platform is now used by more than 2,000 customers including Toshiba, Giacom, Daisy Telecom and Tower Housewares.

The business, which employs 26 staff, has almost doubled annual recurring revenue (ARR) to £1.4m over the past 18 months and aims to triple that within the next three years.

The latest funding round, which brings the total it has raised to £6m, will enable it to expand its presence in the global B2B enterprise market and further enhance its platform with new features and integrations.

Kevin Jones, founder and Chief Technology Officer of Symphony Commerce, said: “This investment allows us to scale faster, expand our team, and deliver a superior customer experience.”

Mercia Ventures and the first Northern Powerhouse Investment Fund initially invested in the company in 2023.

Robert Hornby, of Mercia Ventures, said: “Symphony Commerce solves a number of complex challenges for B2B companies that other platforms are unable to deal with.

“As a result it is rapidly building its customer base in the B2B sector and has the potential to become a leader in its field.

“With a new brand and fresh investment, we believe the right foundations are in place to help the business pursue this goal.”

Hill Dickinson provided legal advice to Symphony, while Browne Jacobson advised Mercia Ventures and Ward Hadaway advised GMCA.