Paris-based mobile social shopping platform Wheretoget has received $2 million in funding. The investors included Alven Capital. According to the firm, the capital will be used to speed up product development and increase audience expansion.
Wheretoget, a mobile social shopping platform specialized in fashion based in Paris, raised $2M from Alven Capital and some notable business angels such as Fabrice Grinda.
By posting a picture on Wheretoget’s website or app (iOS or Android), users find out where to get fashion clothing or accessory they saw in the street, in a fashion magazine or on social networks like Tumblr, Instagram, Pinterest.
2.2 millions people already use the platform on a monthly basis, mainly in the US.
Jeremy Uzan, Partner at Alven Capital says: « Wheretoget is one of the few companies that achieve to match fashion pictures with one-click shoppable products thanks to a community of fashion experts. We got seduced by the team and their ability to generate strong growth in a lot of countries, including the US, with few resources ».
With this round of funding, the Parisian start-up is expecting to further speed up product and business development and to capture a bigger audience.
Romain Moyne, CEO and co-founder adds: « Thanks to the Alven’s investment, we are deploying Wheretoget on multiple devices, including the iPad app and launching the service in other countries, like France where the company is based. We will also be opening an office in New York at the end of the year to keep in touch with the best American fashion brands
Many of those brands already use Wheretoget to promote their clothing collections and the company is accelerating fashion brand enrollments. As Aurélien Appéré, CTO and co-founder says: « Wheretoget is already generating sales to 10.000 online shops and we are currently developing new features to attract every online fashion shop and to drive highly qualified traffic and sales to their website.
Based in Paris, co-founded by Romain Moyne and Aurélien Appéré, Wheretoget helps shoppers, thanks to crowdsourcing, to identify and find where to get fashion products seen in TV shows, on social networks or even in the street. The company has a strong growth on mobile since 50% of the traffic comes from the iOS and Android apps.
About Alven Capital:
Alven Capital is an independent venture capital firm managing €250M. Alven Capital invests in rapidly growing companies with a focus on web, media and services. Alven Capital has already invested in more than 80 companies like Birchbox, Algolia, BIME Analytics, MeilleursAgents.com, Drivy, SeLoger.com, Lengow, Boursier.com, MonShowroom, Companeo, Liligo, Splendia, Mention, MobPartner, eBoutic.ch, Marco & Vasco, Webhelp, OpenClassrooms, Gemmyo, Commerce Guys, etc.
More information can be found at www.alvencapital.com
Chausson Finance (Bastien Laterza) acted as financial advisor to the company.
SB Avocats (Sacha Benichou) acted as legal advisor to the company.
Jones Day (Charles Gavoty) acted as legal advisor to the fund.