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Gloople proves its £1m worth by attracting £150,000 in investment

Gloople (Gloople) - 01 October 2012

Gloople proves its £1m worth by attracting £150,000 in investment

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Award-winning social sharing ecommerce platform Gloople has secured £150,000 from investors in its seed funding round, pushing the value of the company to £1m in less than two years, and opening the door to UK-wide market expansion.

The backing of syndicate London Business Angels, who provided £130,000 as part of the Seed Enterprise Investment Scheme (SEIS) investment, confirms the innovative London-based Startups 100 company as a serious player in the future of ecommerce. Gloople will now focus on the development and launch of its SaaS (software-as-a-service) platform to over 4.5m businesses across the UK.

The SaaS platform will allow customers to build their online store for free, integrating social commerce tools and ensuring products are visible across website, mobile, Facebook store, eBay & Amazon sites. The platform can be white-labelled and is controlled via a single CMS system, giving retailers full control of their brand and sales activity.

?The opportunity presented by the SEIS funding, is fantastic news for Gloople, and continues the amazing progress we?ve made in the last two years,? said Warren. ?As the UK?s first social sharing ecommerce platform, we?re determined to continue leading the industry, and this substantial investment will keep us at the cutting edge of e-commerce by allowing SMEs and start-ups to sell their products online at no cost.?  

The SEIS aims to increase funding opportunities for early stage companies, through entitling investors to tax relief of up to 78% on investments of up to £100,000. Anthony Clarke, managing director of LBA, said, ?Gloople is a good example of how a potentially high growth seed stage company led by an experienced and credible entrepreneur can effectively close a first round of external funding under the SEIS scheme in only six weeks.?

Founded by social commerce expert Warren Knight, Gloople ?makes shopping social? by giving small to medium size retailers the impact of a big brand. It turns the consumer shopping experience in the retailer?s social media marketing by enabling SMEs to use consumer social networks to connect with unlimited numbers of potential customers and their online communities of family, friends and colleagues. Through Gloople, consumers are offered incentives to share their experience with friends and colleagues, and often encourage them to make the same purchase - driving traffic to their online store.

Visit www.gloople.co.uk or call 020 3384 6315 for more info and start transforming your online business today.

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