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Fashion app Fashalot raises funds for expansion
22
Apr '16
Courtesy: Fashalot
Courtesy: Fashalot
Location-based mobile fashion app Fashalot has received has raised an undisclosed amount in Series-A strategic funding led by YourNest Angel Fund and marquee investor Rahul Garg.

The startup will invest the fund in product development, hiring top talent and accelerating its business growth, it said in a statement. Fashalot which is currently operational in Delhi-NCR and Bengaluru, aims to boost operations in new cities by the end of this year.

Amit Koshal Founder and CEO of Fashalot said, "We are on track to be the largest online-to-offline location-based fashion discovery network in India and the capital raised will contribute significantly for us to achieve this goal."

The startup which connects shoppers with offline stores through its horizontal network effect platform, claims to have motivated over 15,000 people to partner stores in March with over 30 per cent repeats. (SH)

Fibre2Fashion News Desk – India


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