Secretsales seals £4.5m fundraising

The flash sales website secretsales.com said yesterday it has raised £4.5m of funding from its private equity owners to help fund its expansion. The group, which offers sales on designer brands for short periods of time, is backed by French venture capital firm Partech Ventures, French private equity firm 123Venture as well as Pentech and Doughty Hanson. Founded in 2007, the Notting Hill-based company has 3.2m registered members and generated £27.4m in sales last year.