21 Buttons raises €3 million in second funding round
today Feb 24, 2017
21 Buttons, the fashion social and shopping network has secured of €3 million in a new funding round, which will help it further consolidate its growth in Italy and Spain, optimize its technology and accelerate its international expansion plans, the company announced in a statement.
The round was led by venture capital fund Samaipata Ventures and included investors such as 360 Capital Partners, Sabadell Venture Capital, Sputnik, VenturCap, Mediaset and Breega Capital. The tech startup’s first round of funding raised €500,000 in angel investment.
21 Buttons was founded less than a year ago in Barcelona by former McKinsey & Co consultants Marc Soler and Jaime Farres, who wanted to connect brands and consumers through social media.
21 Buttons offers an app where users can easily purchase items of clothing shared by friends or influencers. The mobile application is currently available on Apple Store and Google Play, and has reached over 1 million registered users in Spain and Italy.
Social networks and e-commerce are a perfect fit, said Soler, who described how the company took advantage of this to create a “totally disruptive business model in the fashion industry”.
“Both users and brands recognise the great value that 21 Buttons gives them, by combining the power of recommendations with the possibility of driving traffic to online stores and generate sales,” he commented.
The company also announced on Thursday its launch in the UK, a market it said provides a benchmark for the online fashion sector.
21 Buttons is now planning to focus on its international expansion, particularly in the European market, as it moves closer towards its goal of becoming the leading ‘social e-commerce’ app.
It currently has a team of 30 people, including influencers, instagrammers and fashion bloggers such as Dulceida, Jessica Goicoechea, Chiara Nasti, Cristina Musacchio and Sergio Carvajal, to name a few.
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