Basket secures £2m in seed funding from Lightbank and angel investors to launch its shopping app
The round was backed by Lightbank, Darren Westlake, Justine Roberts, and Jonathan Quin.
Basket provides a shopping application that allows users to curate wish lists from across the web, track price reductions automatically, and earn commission by sharing baskets with followers.
Serial entrepreneur Lex Deak has secured £2m in seed funding for his shopping application, Basket. The round drew participation from prominent backers including venture capital firm Lightbank, Darren Westlake of Crowdcube, Mumsnet founder Justine Roberts, and Worldfirst co-founder Jonathan Quin.
The capital will support the launch of the application in January 2022. Basket allows consumers to bookmark potential purchases from any online source, receive alerts regarding price reductions, and monetise shared product collections through social media channels.
The financing highlights growing interest in tools that streamline online purchasing and mitigate cart abandonment for retailers. Early testing has yielded strong engagement, positioning the company to address inefficiencies in the global e-commerce market.
From the founder
"I love to bag a bargain but like many busy people, I struggle to find time to track deals and reductions and I know the frustration of missing out on savings, especially when looking for holidays and bigger ticket purchases."
Lex Deak
Founder and CEO at Basket