Lookiero raises $19m led by MMC to expand across Europe
MMC led the round with participation from All Iron Ventures, Bonsai Partners, 10x and Santander Smart.
≈ £15.4M at $1 = £0.8127 on 2 Oct 2019
Lookiero is a European personal shopping service that pairs customer style profiles with algorithmic curation.
Lookiero has secured $19m in a funding round led by MMC, with participation from existing backer All Iron Ventures alongside new investors Bonsai Partners, 10x and Santander Smart. The capital will support the company as it pursues further international expansion and strengthens its position in key European markets. Founded in 2015, the platform combines human stylists with machine learning algorithms to curate selections of clothing for its registered users across seven countries.
From the founder
"This investment round provides us with the necessary capital to further increase the accuracy of our technology, which is really exciting. It will allow us to offer the best possible experience for our users and to continue expanding across Europe. Our new investors bring valuable experience and knowledge in branded direct-to-consumer tech, user retention, and internationalisation that will help to take Lookiero to the next level of scale."
Oier Urrutia
Founder and CEO at Lookiero
Investor perspective
"The migration of fashion brands online has improved consumers’ access to clothing, and there is now an almost overwhelming amount of choice. At the same time, it can still be really hard to find exactly what is right for you, especially with high street retail stores in decline. Lookiero provides the best of both worlds, giving every customer a hand-picked selection from their personal stylist. We’re excited to be backing a world-class team that is using technology to make it easier for customers to find the perfect styles and sizes for them. We’re also pleased to be supporting Lookiero’s UK expansion."
Simon Menashy
Partner, MMC
Use of funds
- 01Expand into international markets