An online fashion store has receieved £6 million worth of backing from a group of business angels and VC group Balderton Capital.

My-Wardrobe is British company that sells “accessible” fashion labels such as Ralph Lauren and Mulberry via its website. The company hopes that the money can be used to help push its expansion into Europe. the clothing retail sector has come under pressure in the past two years but this particular group of investors clearly believe that the clothing business has the potential to make them a good return judging by the size of their investment.

Tags: Balderton Capital, business angels, clothing retail sector, My-Wardrobe