Tech Crunch recently reported that UK’s startup Casabu, raised $1.4 million in Series A funding led by a private equity division of investment and advisory group Ingenious, Ingenious Ventures. Horatio Investments is also participating in the investment.
Ingenious Ventures is the private equity division of Ingenious Media, who invest in growing companies such as Lionhead Studios Limited, Stage 3 Music Limited and 19 Management Limited, providing them with the finance needed to help build their success.
Founded in late 2011 by Rachel Oxburgh and John Heseltine, Casabu offers great daily discounts from 40%-90% off of retail price for moms looking to buy stylish clothes, toys, nursery equipment and maternity wear. The only way to access these offers is to become a member of the site for free to receive daily emails on their sales and promotions. After launching in April 2012, they have rapidly grown with a focus on providing great customer service, and was nominated for Start-up of the Year in 2012 in the category of Online Business of the Year.
Cassabu believes they will be able to help suppliers reach a larger targeted customer base by promoting new lines and raising a brand’s profile.
The new funding will be used to help with Casabu’s customer acquisition, with hopes to reach one million members by the end of the year. They also plan to develop products and technology by adding more curation, personalization and social shopping features.
By Pia Talwar