Mrs Deane told The Daily Telegraph that she had received a number of approaches from investment companies but that Index Ventures stood out. “Cambridge Satchel is my third child,” she said.
“There’s no way I’d let someone join the table if they couldn’t bring more than just money. A chequebook is not a skill set.
“Index has a fantastic track record with digital companies. We’ve done so well to get this far and, with this investment, we can take it so much further.”
Geneva-based Index has previously backed fashion retailers such as ASOS, Net-a -Porter and Nasty Gal in the US.
It also has a stake in Moleskine , the Milan-based notebook company. “That’s a brand, like us, that has to deal with rip-off competitors,” said Mrs Deane. “The fact that it has done so well with Index was reassuring.”
Under the terms of this deal, which has been two years in the making, Index has acquired a minority stake in the company.
“We started the business from my kitchen table with just £600 and now a minority stake is worth millions. It’s amazing,” said Mrs Deane.
Cambridge Satchel, which recently launched a clutch bag, plans to introduce new products and grow its UK manufacturing base to meet demand. It has over 100 employees and sells to more than 100 countries.
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