A social e-commerce platform has been bolstered by an additional £200,000 in funding from an existing supporter, expanding its financial backing to over £10 million.
AIM-listed Two Shields Investments recently raised £500,000 through a share placing, further investing in the digital platform aimed at enhancing the online shopping experience by integrating reviews, likes, and shares with a tailored retail offering.
Led by experienced professionals Matthew Hammond and Andrew Lawley, the platform has already established partnerships with prominent brands and retailers, including ASOS, Harrods, Nike, Tesco, and Boots.
Charlie Wood, chairman of Two Shields, noted, ‘We had an opportunity to up our stake and believe that the potential upside warrants returning to the market. Backed by high profile investors and a team with first rate knowledge in the retail sector, WeShop is ideally placed to capitalise on its early mover advantage and become a global leader in the rapidly growing social e-commerce sector.’
Social e-commerce is projected to become a US$350 billion market in the mid-term, highlighting its significant potential for disruption and growth. Prior to this latest round of funding, Two Shields had invested an initial £150,000 in the platform earlier in July 2018.
The recent financial injection signifies a strong vote of confidence in the platform’s potential to revolutionise online retail through social integration, setting the stage for future growth in the burgeoning social e-commerce market.