Social, mobile shopping app, SHAREIGHT, has announced it will be raising funding through the equity crowdfunding platform Seedrs on 11 March 2014.
SHAREIGHT is the creator of a social mobile shopping app of the same name that searches for items from multiple retailers and displays the top eight results for comparison and purchase. The company is looking to raise £325,000 to develop an Android version of the app and to deliver a super-fast checkout experience that will help SHAREIGHT become the go-to place when shopping on mobile.
SHAREIGHT said it has already made a significant impact in the mobile commerce sector, attracting thousands of users to its app. The start-up has a pre-money valuation of £3m and has secured a number of high profile partners that boast a huge catalogue of great products from all the major UK stores. They include Superdry, John Lewis, Clarks, Topman, PC World, New Look and B&Q.
SHAREIGHT said it has built a strong community following thanks to its easy to use platform and interactive social features. SHAREIGHT enables users to reach the top 500 retail search terms in just three clicks and to save items from the entire high street in ‘eights’- a wish list collection that appears on the mobile screen. This content can be easily shared with friends and discussed through a built in Whatsapp style messaging feature. Brands and stores can display their favourite eight picks as well, using the platform as a virtual high street store window.
“There’s tremendous interest in our technology among investors and consumers alike, which makes it an ideal time to raise funding,” said Grant Slatter, co-founder of SHAREIGHT. “Mobile commerce is taking off in the UK and more consumers want to make purchases on their mobile phone. We offer an easy way for users to browse different products from a range of brands by offering eight suggested retail options. We also give people the opportunity to talk to each other about products, especially gifts. SHAREIGHT makes this process simple and easy. It can be done in a few seconds with just three taps.”
Henry Whittaker, co-founder of SHAREIGHT, said: “SHAREIGHT is an attractive consumer product that has many fans and we wanted to be able to offer all of our current users the chance to have a stake in the company. We’ve had a huge response and expect our Seedrs listing to be heavily oversubscribed, despite being the largest ever raised and the highest valuation on a crowdfunding platform based in London.”