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Spanish personal shopping startup raises €4 million to fuel the European expansion | #VentureCanvas

Thomas Ohr | EU-Startups


Lookiero, the leading online personal shopper service for clothes and accessories in Spain and France has recently closed a funding round of €4 million led by All Iron Ventures. Following two years of successful business activities, the injection of capital will allow the startup to further increase and consolidate its presence in Europe. Lookerio was founded in 2016 and is headquartered in the Bilbao region.

With Lookiero, customers create their own personal profile and can then receive, in the comfort of their own home, a personalised package with five items, as often as they choose, carefully selected by their very own personal shopper to fit their size, tastes, and preferences. The client then decides which garments to keep or return (at no additional cost), allowing their personal shopper to continue learning through feedback and improve future selections.

Lookiero founder and CEO Oier Urrutia stated: “The round provides us with the resources necessary to carry out our international expansion efficiently and to introduce our personal shopper service, which is now available in the United Kingdom, to thousands of women across Europe.”

The e-commerce startup has over 250,000 registered users in Spain and France and saw an incredible 8-fold increase in revenues from 2016 to 2017. In 2018, Lookiero expects to continue with three-digit growth figures.

Ander Michelena from All Iron Ventures commented: “We opted for Lookiero and it’s magnificent team from the initial stages. We don’t only see great potential in the business model, but also in what Lookiero has accomplished until now and how it has executed throughout.”

This month, Lookiero chooses to launch its service in the UK, the company’s third market in Europe and a sensible option due to strong e-commerce presence. According to Mintel, in the last 12 months, 66% of British people have bought fashion products online making Britain among the most appealing candidates for international expansion. Moreover, the startup looks for new markets so that it can make the VIP treatment of personal shopping accessible and affordable to more women in Europe, a service that has always been considered a luxury.

With the new funding, Lookiero aims to continue consolidating its position in France and Spain as well as improving its website to offer a better user, registration, buyer and customer support experience to customers. The company recently carried out a rebranding in which it has revamped its brand identity to better accommodate European audiences.

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Source: Spanish personal shopping startup raises €4 million to fuel the European expansion

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