TheFashion.com raises 1.7 million dollars of funding

TheFashion.com, a startup online platform which brings together the top fashion websites in a single destination, has announced the closure of a 1.7 million dollar (1.09 million pounds) seed funding round, led by Copenhagen-based North East Venture Capital and The Danish Growth Fund.

The online company aims to use the funding to expand the platform current offering to other countries in Northern Europe, in particular Sweden, Germany and the Netherlands. Since launching this year May, TheFashion.com has grown, with hundred thousand users visiting the site per month. Therefore the company aims to use its latest funding to continue developing its algorithms to compete against other fashion-aggregating competitors.

“The online fashion industry is fragmented and competitive like never before. TheFashion.com was born out of our own frustrations at how time-consuming it is to shop for fashion online,” explains Kasper Vardrup, co-founder and CEO of TheFashion.com. “Our ambition is to create a one-stop destination for finding the product you love. We want to make the online shopping experience quick, simple and personal.”

“Over the past four months we have had an overwhelming response from our users, and we are looking forward to the next stage in our journey as a result of both North East Venture Capital and the Danish Growth Fund’s backing.”

Søren Jessen, partner at the Danish Growth Fund added: “We are proud to back TheFashion.com - the user growth and engagement have been exceptional and we have high hopes for what the business can become.”