Mallzee offers Product Future, a retail-data service that lets retailers leverage its engaged app audience as a testing zone to assess product sales potential and inform buying and merchandising decisions. The company says this approach improves sell-through by using real consumer preference data before orders are made. Mallzee's app has garnered 1.4 million downloads to date and the company reported more firms tested products in the latest quarter than in the rest of 2017 combined. The startup raised £1.9 million in its latest financing from SIB, Par Equity, Equity Gap, and London Scottish Investment Group, bringing total funding to £5 million. The new funds will be used to boost sales of Product Future. Mallzee has appointed Peter Robinson, former executive head of ecommerce at Marks & Spencer, to its board to help build its retail insights capabilities. Mallzee offers a Tinder-esque swipe interface on Android and iOS to browse and purchase fashion from more than 100 retailers. Its personalization technology builds unique style profiles and sends alerts when liked items drop in price. For retailers it provides an anonymized data insight tool that surfaces real-time engagement and demographic signals. The app combines consumer-facing discovery with retailer analytics to improve merchandising and targeting. Founded in 2013 and based in Edinburgh, Scotland, the company has grown its user base to just under 300,000 and is targeting 1 million users by year-end. CEO and founder Cally Russell previously said the startup would reach 500,000 users with prior funding; that milestone has not been reached yet. Mallzee is a fashion-finding app led by CEO Cally Russell that aggregates more than one million items of clothing from roughly 200 top fashion brands. Described as a “personal shopper in your pocket,” the app has a user base in the tens of thousands and aims to grow to 250,000 shoppers by the end of the year. Mallzee has signed partnerships with brands and retailers including ASOS, Topshop, Urban Outfitters, River Island, Liberty London, Glassworks and Oki-Ni. The company is based in Edinburgh, Scotland. It secured $850K in funding to scale the business and bring the product to more consumers across the globe.

Total raised

$7M

Funding rounds

3

Latest round

Equity

Latest activity

Feb 2018