The U.K. site Casabu.com seeks 1 million members by the end of the year.
Katie Evans , Editor, Mobile
Moms looking for deals are a sound investment. At least that’s an assumption some venture capital firms are making.
On the heels of an $85 million funding round for mom-focused flash-sale site zulily—the most recent of several for the retailer—a similar niche flash-sale site geared to mothers, called Casabu.com, has raised $1.4 million. However, because Casabu.com is based out of the U.K. it caters to “mums” not “moms.”
The investment round is led by U.K.-based Ingenious Ventures, the private equity division of investment and advisory group Ingenious. Existing investors, including Horatio Investments, another U.K. investment firm, also took part in the funding round. The startup, which launched 10 months ago, aims to have 1 million members by the end of the year, says Casabu, which runs daily sale events for time-poor, price-conscious mothers. The e-retailer says it offers discounts of up to 90% on clothing, nursery equipment and maternity wear.
“We will be investing in new technologies that enable us to deliver the best in customer curation, personalization and social shopping,” says Rachel Oxburgh, Casabu CEO.