thefashion.com raises seven figures to fund expansion

A London-based e-commerce site that aggregates fashion portals into one online destination has raised $1.7 million in seed funding.

thefashion.com has closed a $1.7 million seed funding round led by Copenhagen-based North East Venture Capital and The Danish Growth Fund.

Based in Copenhagen as well as London, the company plans to use the funding to grow the platform and expand its offering to other countries in Northern Europe, primarily Sweden, Germany and the Netherlands.

The website brings together the world’s leading fashion stores, allowing users to cross-shop millions of fashion products all from its own website.

Offering a store-like interface, it uses algorithms and machine-learning technology to adapt to users’ tastes, showing them products and similar items they like.

Partners include large online retailers like ASOS, Farfetch, My-Theresa and TheOutnet as well as several hundred smaller national online shops.

Since the launch in May 2014 the company claims to have grown traffic to several hundred thousand users per month.

The latest funding will also be used to continue developing its algorithms to compete against larger fashion-aggregating competitors.

Founder and CEO Kasper Vardrup said: ‘The online fashion industry is fragmented and competitive like never before. TheFashion.com was born out of our own frustrations at how time-consuming it is to shop for fashion online.

‘Our ambition is to create a one-stop destination for finding the product you love. We want to make the online shopping experience quick, simple and personal.We believe a great shopping experience comes from simplicity, curation, and personalisation. We want to give our users an effective way to find the products they love.’

Søren Jessen, partner at The Danish Growth Fund added: ‘We are proud to back TheFashion.com – the user growth and engagement have been exceptional and we have high hopes for what the business can become.’

Praseeda Nair

Kellen Rempel

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

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Venture capital funding