This strategic acquisition represents a significant milestone for Fy!, effectively doubling its business size and reinforcing its position as a frontrunner in using AI to enhance marketplace experiences for both sellers and buyers.

Trouva, known for its outstanding curation and support of over 600 independent boutiques throughout the UK and EU, will retain its distinctive brand identity while benefiting from Fy!'s cutting-edge AI and marketplace expertise, particularly in AI-driven search and discovery functions.

Central to Fy!'s mission of creating a world where everyone is delighted with their home is its commitment to employing AI to tackle complex marketplace challenges at scale. This includes everything from advanced product tagging to intuitive natural language search capabilities and improved discovery methods.

Fy!'s conversational, AI-enhanced search, inspired by platforms such as ChatGPT, offers a more natural and context-aware search experience. Since its launch last October, this technology has already contributed to a 45% increase in revenue per searcher.

Moreover, Fy!'s AI-powered recommendations have nearly doubled interactions with related product grids, significantly enhancing customer engagement and satisfaction.

At the foundation of these technologies is Fy!'s AI-driven product tagging system, which enables rapid and precise tagging of millions of products.

"The coming together of Fy! and Trouva represents an exciting new chapter for both companies,” said Tom Beverley, Fy! CEO and Co-founder. “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.”

Hussein Kanji, Founding Partner of Hoxton Ventures, commented: "The acquisition of Trouva by Fy! significantly expands its business and capitalises on its status as a frontrunner in AI-enhanced marketplace experiences. This reinforces our belief in Fy!'s growth trajectory and its commitment to innovation in building AI-powered consumer marketplaces."