Fits.me announced today that its Series A investment round had reached approximately GBP5 million. SmartCap, an existing investor of the company, was the leading investor in the Series A investment. The new investors are from The Entrepreneur's Fund, Conor Venture Partners and Fostergate Holdings Limited.
The additional funding will be used by Fits.me to implement its sales and marketing plans and to continue to increase its operations to meet its estimated demand. International expansion would be conducted in the United States, Germany, France and other European Union countries and this is one part where the additional finance will be utilized.
"While large swathes of retailing already takes place online, there are sectors for which the real online growth has yet to come. Apparel is chief among those sectors, primarily because buying clothes is such a subjective process - most obviously when it comes to 'fit'. Fits.me has a sophisticated solution that works, delivers provable results, is easy for retailers to deploy and has been signed up by a growing band of respected retailers and brands, on an international basis. From an investor's point of view, there is tremendous growth potential." commented by Conor Venture Partners' Manu Makela.
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