Grabble, the mobile shopping app described as the ‘Tinder for fashion’, has secured 1.2 million pounds of funding to assist in strengthening its platform and expansion into the US and Asia.
Backers include chairman of Skimlinks Alex Hoye, founder of Miroma Venture Marc Boyan, who previously invested in Pinterest, and Guy Hipwell, head of e-commerce at C&A, previously head of e-commerce at Liberty’s and Harrods. In addition, the consortium of high-profile angel investors also includes Alex Tait, former head of e-commerce at Topshop owner Arcadia, and media guru Darren Childs, chief executive of UKTV.
The start-up, which allows users to create their own shoppable fashion content and ‘grab’ clothing from a number of high street retailers, using the same ‘swipe right for yes’ action used by dating app Tinder, aims to use the investment to not only expand the app into the US and Asia, but also to improve the checkout experience to boost sales, as well as personalising and widening the reach of the app.
The money has also been used to add to its team with the most notable hire being the Outnet’s global head stylist, Cherry Collins being named as its fashion director.
Co-founder Joel Freeman explained: “Our aim is to launch in the US by the summer, but we are also looking East, having strategically taken investment from influential angel investors from Asia and the US that could assist us in these exciting markets where mobile usage is growing so fast.”
Grabble app raises 1.2 million to support international expansion
Freeman founded the app with Daniel Murray in 2013, and since its launch in August last year the app has signed up 80,000 users, who have grabbed more than 500,000 items, which has generated 100,000 pounds in tracked transactions. The app currently hosts products from 1,500 brands including Asos, Topshop, Zara, Reiss, Selfridges, Uniqlo, Urban Outfitters and Missguided.
Murray added: “The size of the seed round is a great indication not only of the size of our addressable market, but the importance of our geographical location. London is now a centre of excellence for both technology and, more traditionally, fashion.
“We have spent a long time targeting relevant investors who passionately share our vision on m-commerce and support our strategy on delivering a great experience for fashion retailers and consumers alike on mobile.”
Other investors include Seamus Keating, ex-CFO of Logitech Worldwide, Nishul Saperia, founding team of London startup ‘Markit’ which had a 1 billion dollar IPO, Pablo Barclay, CEO and founder of Rubbersole.co.uk, Maiden Lane – an angel fun based in Silicon Valley, and Fusepump co-founders Chris Conn and Rob Durkin.