Channel 4’s media for equity arm Channel 4 Ventures has agreed to give £3 million-worth of advertising airtime to homeware brand Fy, as the broadcaster looks to diversity its revenue streams.

The online home decor retailer bought out rival marketplace Trouva earlier this year for an as-yet undisclosed sum, through the broadcaster’s investment the brand will be able to target a hyper-relevant viewership via shows such as Grand Designs.

According to the terms of Channel 4’s investment, the media powerhouse will receive a certain percentage of Fy’s equity when both firms opt to end the agreement.

“At Fy we’re on a mission to transform how people shop in the home and living category. Our unique combination of great products, amazing design ideas and cutting-edge AI tech is something we think the Channel 4 audience is really looking for,” Fy CEO and co-founder, Tom Beverley said.

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This latest investment will continue to help Channel 4 exceed its non-advertising revenue, which as of the end of last year had hit the 10% target set by CEO Alex Mahon in 2020.

Channel 4 Ventures head, Vinay Solanki added: “We’re at the forefront of demonstrating the potential of media for equity for brands looking to scale in the UK and we are proud to invest in a company that extends our experience in the home and living space.”

“Programmes where home interiors take centre stage are very popular with Channel 4 viewers, whose relevant programming is long distinguished. This partnership is yet another example of how we can create significant commercial benefits for the businesses that collaborate with us.”