Trouva has yet another new owner as Fy! steps in

London-based Trouva has yet another new owner. The platform for independent boutiques and brands has been acquired by Fy! for an undisclosed sum.

The AI-enabled marketplace for home and living becomes Trouva’s third owner in just two years. Trouva, which was founded in 2015, was first acquired by Made.com before the business fell into administration. It was then acquired by Re:Store in 2023.

The latest acquisition, which doubles Fy!’s business size, “is part of its wider strategy to leverage artificial intelligence to offer unparalleled marketplace experiences for sellers and buyers alike”, the new owner said.

Trouva’s platform, which has more than 600 independent boutiques across the UK and EU, will continue to operate as a separate brand “while benefiting from Fy!’s AI and marketplace expertise”.

Fy! added that Trouva “will particularly benefit from its enhanced AI-enabled search and discovery tools, which [have] significantly improved customer engagement and increased revenue”.

Tom Beverley, chief executive and co-founder of Fy!, added: “[Our] coming together… represents an exciting new chapter for both companies.

“Trouva’s strong brand, unique community of independent boutiques and product curation provide a compelling destination for customers. We look forward to working with the Trouva team to leverage Fy!’s AI-enabled search and discovery to benefit Trouva boutiques and customers.”

Fy! was launched in 2017 and partners with more than 20,000 brands and artists to sell their home and living products. It leverages AI to address complex marketplace challenges at scale, from advanced product tagging to intuitive natural language search and enhanced discovery.