Mallzee Captures Big Bucks To Capture Impulse Spend

Mallzee — the shopping app which calls itself the “Tinder for fashion” — caught the attention of investors in the U.K with its latest £2.5 million in additional funding.

The iOS and Android supported app’s interface, which lets users swipe clothes left or right in a Tinder-like style, utilizes a self-learning personalization technology that improves the user options as they swipe their way through fashion clothing from over 100 retailers.

The latest round of funding was led by the Royal Mail Group with a mix of new and old investors like the Scottish Investment Bank, Par Equity, and independent investors like Skyscanner’s CEO Gareth Williams, Actix Founder Rob Dobson, and 4j Studios’ CEO Paddy Burns and Chairman Chris Van Der Kuyl, TechCrunch reported.

Mallzee, which was launched in 2013, faces competition from other mobile shopping apps like Grabble, WantList and Dapper, which all work on the same Tinder-style platform that frees the shopper from describing their preferences in words.

To keep the shoppers hooked, the app also sends notifications when the price of products that were swiped right are available on discounts.

The company, which has so far raised £3.1 million, analyzes user preferences and compiles data analytics underpinning product perception, engagement, demographics, gender and age, for the retailers to improve product offerings.

With more money coming in, the Scotland-based company is predicting growth of users by more than three times to reach a whopping user base of 1 million shoppers by the end of the year.

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