Flash sales site for mums completes £900,000 investment round
Casabu targets one million members following major funding boost
Online flash sales start-up Casabu has secured £900,000 in a Series A investment round led by Ingenious Ventures.
Launched in May 2012 the flash sales site targets mums, offering up to 90% discounts on products ranging from toys and baby clothes to maternity wear and jewellery.
The investment comes from Ingenious Ventures’ specialised Media Opportunities Fund, which backed live performance filming company Digital Theatre earlier this year.
It is hoped that the funding boost will help Casabu as it strives to build a network of one million members by the end of the year. The company has forecast a turnover of £5m for its first year of trading.
The site, which currently offers discounts on leading brands including Lego, Sylvanian Families and Playmobil, plans to boost membership through investing in technologies designed to improve the social shopping aspect of the business.
Founder Rachel Oxburgh commented: “The beauty of the flash sales model is that we don’t need to sink capital into stock and we can use this investment to grow our customer database.
“Our target customers are mums who love sharing ideas and experiences with their friends. As long as we provide them with uncompromising quality and great customer service, they will spread the word about Casabu for us.”