Staffordshire-based The Moot Group is expected to deliver revenues of £20 million in 2020

A technology business which launched just two years ago is on track to turnover £50 million by 2022.

Staffordshire-based The Moot Group has reported ten times year-on-year growth since it was founded in 2018.

The business was established by Staffordshire tech entrepreneur Nick Moutter who used his background in performance marketing and technology to evolve the e-commerce world through automation.

For 2020, The Moot Group – which is based on Stone Business Park – is expected to deliver revenues of £20 million as a result of the boom in online retail throughout the pandemic.

And early next year, the company plans to raise investment to support further growth which will include a recruitment drive of up to 50 staff – and an ‘aggressive’ international expansion programme.

The Moot Group is the parent company of some of the UK’s leading homeware e-commerce platforms.

It owns luxury furniture and homeware brand Olivia’s and Glasgow-based Houseology, which it saved from administration earlier this year.

It also generates an annual £3 million through third party technology licenses – to the likes of Rolls Royce and Sports Direct – for its customer acquisition technology and e-commerce tools.

Nick Moutter said: “I’m in a fortunate position to say 2020 has been an exceptional year for The Moot Group – the acquisitions we made earlier in the year have accelerated growth across all of our companies, as well as our unique and innovative approach to marketing the group’s e-commerce brands.

“The next few years are looking very promising, and I hope our plans to recruit up to 50 members of staff over the next 12 months will provide some welcome positive news, in what is currently a very uncertain economy and jobs market.”

Originial source: Business Live