E-commerce mobile app SHAREIGHT raises £662,000 in oversubscribed Seedrs pitch
334 ‘crowd’ investors from 12 countries back pitch to support Android roll-out
London-based mobile shopping app SHAREIGHT has closed £662,050 through equity crowdfunding platform Seedrs, overfunding its original target by 190%.
The campaign attracted 334 investors across 12 countries who will now receive a share of 18.08% equity in the e-commerce start-up.
Currently available on iOS, SHAREIGHT claims to “take the pain out of shopping on mobile” through its e-commerce interface which has been built solely for mobile to allow users to find and share retail products on their smartphone “more easily”.
Listing over 8,000 brands, the app says it enables users to find what they want “in just three taps” using its 500 retail search terms, and also offers “easy comparison”; letting users save their favourite items from all the major stores in one place.
It intends to use its crowd investment to launch the app on Android and to deliver “ super-fast checkout” with its end-goal to make the app the “go-to place when shopping on mobile”.
The news also sees the mobile app set a new record for crowdfunding site Seedrs having reached its initial £350,000 funding target in just 17 hours.
A recent blog post on Seedrs’ website outlines the success of SHAREIGHT’s crowdfunding pitch:
“SHAREIGHT were able to galvanise such decisive support because they have spent considerable time building relationships with angel investors and the equity crowdfunding round fits into their overall capital raising journey.
“SHAREIGHT’s campaign has set a Seedrs record for speed and amount raised (excluding our own fundraising campaign last year) and we think its success was a function of two things: the business itself [and] how they ran their campaign.”