Marketplace app Mallzee has raised a further £1.9m in funding, taking its total capital raised to £5m.
The tech company, nominated for Best App at the Drapers Digital Awards 2018, will use the cash to accelerate sales of its data insights offering, Product Future, which aims to improve retailer margins. The new funding came from existing investors, including SIB and Par Equity and new investors Equity Gap and London Scottish Investment Group.
The business has also appointed Peter Robinson as non-executive director. Robinson is a former executive head of ecommerce at Marks & Spencer, where he led the early development and introduction of its online offer. He was also multi-channel director at Selfridges, where he led the launch of Selfridges online.
Cally Russell, founder and chief executive of Edinburgh-based Mallzee, said: “We quickly realised there was a major opportunity for us to utilise our engaged audience as a testing zone for our partners’ new products helping buying and merchandising teams make informed stock decisions based on real data, to improve sell through success.”
Mallzee now lists more than 150 companies and the app has been downloaded over 1.4 million times. It says it has driven over 25 million visits to partner sites.