Channel 4 Ventures invests in Fy!
Channel 4's division for investing in consumer products, Channel 4 Ventures, has successfully obtained a £3 million (€3.54m) investment in Fy!, a technology-driven marketplace for home and living products.
The agreement with the media-for-equity deal allows Fy! to reach new audiences through partnerships with popular Channel 4 home improvement shows like Grand Designs. Through the use of advanced AI technology, Fy! can connect users with the perfect home and living products. This comes after Fy! acquired the boutique marketplace Trouva.
Channel 4 announced that the agreement helps them reach their goal of expanding their sources of income as they shift towards being a digital-first public service streamer, in line with their Fast Forward Strategy.
The agreement boosts the range of home and living space investments in Channel 4 Ventures' portfolio. These investments have previously included Vinterior, Purple Bricks, Swyft, MyBespokeRoom, Coat Paints, Rated People, and Get Agent.
Vinay Solanki, who leads Channel 4 Ventures, said: "We are leading the way in showing how media-for-equity can help brands grow in the UK. We are excited to invest in a company that complements our expertise in the home and living sector. Home interior shows are a big hit with Channel 4 viewers, who have a history of enjoying related content. This partnership shows how we can help businesses achieve success by working together."
Tom Beverley, who is both the Chief Executive Officer and Co-Founder of Fy!, mentioned: "Fy! is dedicated to changing the way people shop for Home & Living items. We believe that our special blend of top-notch products, fantastic design concepts, and advanced AI technology is exactly what the Channel 4 viewers are seeking."
Channel 4 Ventures is a company that invests in consumer businesses and puts the profits back into Channel 4. They are known for being one of the first to use the media-for-equity investment approach in the UK. They support consumer companies at various stages of growth, from early stages to just before they go public. In exchange for using Channel 4's advertising space, they receive ownership in the companies they support.
