TheFashion.com raises €1.37mn to expand to Northern Europe
TheFashion.com, a European fashion discovery platform has closed a $1.7 million (€1.37 million) seed funding round led by North East Venture Capital and The Danish Growth Fund. With the money, TheFashion.com wants to roll outs its platform in Northern Europe in the next few months, targeting Sweden, Germany and the Netherlands initially.
TheFashion.com is a brand new discovery platform that aggregates multiple fashion sites into one online destination, so users can cross-shop millions of products all from one place. TheFashion.com looks like every ordinary online store out there, but uses algorithms and machine-learning technology to adapt to users’ tastes, showing them fashion products and similar items they like. On the website there are items from partners like ASOS, Farfetch, My-Theresa and TheOutness but also from several hundred smaller national online stores.
Compete against bigger fashion platforms
TheFashion.com was launched publically in May 2014 and since then, its traffic rose to several hundred thousand users per month. With the new funding it wants to continue developing its algorithms, so it can compete against bigger fashion-aggregating competitors.
“The online fashion industry is fragmented and competitive like never before”, says Kasper Vardrup, Founder & CEO of TheFashion.com. “The website was born out of our own frustrations at how time-consuming it is to shop for fashion online. 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.”