London Business Angels Syndicate Closes £150k SEIS Investment into Stylechi
Online, June 23, 2013 (Newswire.com) - Seed stage, London based, social e-commerce specialist, Stylechi (www.stylechi.com) has closed a £150k SEIS investment from a syndicate of London Business Angel investors, including a £35k investment by the LBA SEIS Fund 2012 fund.
The company has built an online ecommerce social platform which offers each user their own individual prices for items based on their purchasing history and their interactions on the site. The website's custom-built, real-time loyalty system means that members of the Stylechi community are remembered and rewarded instantly; potentially encouraging higher conversions and increased customer retention. The new funds will be used to expand the company's marketing and sales resources and accelerate growth. The StyleChi idea blossomed from the simple concept of bringing online shopping and social networking together. Their in-house fashionistas will continuously follow the style trends,
staying one step ahead and bringing you those "must have" items.
Emmanuel Eribo, Stylechi CEO, comments, ""StyleChi aims to revolutionise the way that people currently shop online. Social e-commerce has long been identified as the future of online retail. The LBA have provided the ideal platform for StyleChi to realise the is assertion."
Anthony Clarke, Angel Capital Group and London Business Angels CEO, www.lbangels.co.uk comments, "Stylechi is building out an innovative ecommerce model that has great potential for exponential growth. This £150k SEIS investment will allow the company to further accelerate its growth and I am particularly pleased that we have been able to introduce a sector experienced lead angel alongside our LBA SEIS fund and one other value add LBA member in order to close this initial seed round".
