Photoslurp receives investment to expand in Europe
Photoslurp, a Spanish visual commerce platform, just received an investment of 750,000 euros. The funding round was led by Spanish VC firm Inveready Technology Investment Group and joined by Bankinter VC, Caixa Capital Risc and ICF. Photoslurp wants to use this money to further expand in Europe.
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For Photoslurp, this is the first investment since it was founded three years ago. So far, it has been completely bootstrapped. The visual commerce platform claims to be the market leader in Europe as it works with over 150 brands in 20 different countries.
Photoslurp enables brands to leverage the content that’s generated by their fans and customers. The visual commerce platform scans social media websites for photos and videos of customers with a brand’s product and then integrates these media into the brand’s online store. By directly linking this media to products, they become shoppable.
Enriching product pages
According to the Spanish company, brands benefit from the use of this media by creating an “engaging community feeling” on their ecommerce websites. And at the same time, they enrich their product pages with social content and boost their conversion rate. Photoslurp also offers an analytics tool which allows brands to measure the impact of user-generated content in their online stores. “The best performing photos or videos are identified and can then be pushed to Facebook and Instagram to create high performing advertisements”, the company adds. It’s also possible to identify the brand evangelists, so brands can further engage with them.
Visual commerce becomes more important
“Visual commerce is becoming more important by the day. With the diminishing results of online advertising, user-generated content is extremely important for both building a community and engaging with your audience, reinforcing consumer trust, driving traffic and increasing your ecommerce conversion rate”, says CEO Eulogi Bordas.