TechCrunch: Social Commerce Startup Flip Secures $28 million in Series A
Posted on September 5th 2021, 6:31:43 am
Category: B2B eCommerce
(Image source: Flip)
Flip – social commerce startup based in Los Angles. The company combined social media and e-commerce experience to create a platform where customers are also content creators, giving real reviews to boost shopping experience.
Flip focuses on beauty, health and wellness sectors, creating a holistic shopping process, mixing in user-generated reviews and live shopping shows for brands. The company provides back-end logistics and same-day shipping service. With every purchase generated from video content, users will get a commission.
“It’s not only a social platform, it is the best post-purchase experience — shipping, rewards, returns — everything people love and in a two-click process,” founder Agha shared.
The company just raised $28 million in Series A funding led by Streamlined Ventures, contributing to the total fund of $31.5 million.
Before the launch, Flip has been working with multiple brands. They are now signing 20 contracts with new brands weekly, including big corporations like Unilever. By the end of this year, the company expects to get over 500 brands onboard. The next steps will be focusing on user growth.
“We focused on onboarding brands instead of pushing for growth, but now we expect to have a grand launch at the end of September where we start aggressively pushing growth.” Agha added.