LoveCrafts, a leading online crafts community, with millions of users across 140 countries worldwide, has secured an additional $22m funding and has acquired WEBS, America’s Yarn Store.  

The funding comes from existing investors including Scottish Equity Partners (SEP), Highland Europe and Balderton Capital, alongside Silicon Valley-based debt providers TriplePoint Capital, to facilitate the deal and further invest in LoveCrafts’ next chapter.

The investment and acquisition follow exceptional growth by LoveCrafts as interest in crafting surges globally. The company saw an increase in orders from new customers of  166% from March to November last year, compared with the same period the year before.