London’s Snupps, an organising app and social network for collectors, has raised $4.75 million from angel investors and family trusts. The startup declined to name all of the investors.
Snupps’ social app is used by collectors to organise or share photos of their collections, from fashion to rare items, through “virtual shelves”. Users can join different interest groups and comment on or rate each other’s collections. The startup claims to have added one million new users over the last year.
“Organizing your stuff has always been more trouble than it is worth, and existing platforms are difficult to use and narrowly focused,” said Sari Ababtawi, CEO of Snupps.
“Snupps has lowered this hurdle by investing in UX and easy social interaction, and as a result we are seeing all types of ways people use Snupps to track personal possessions, curate collections, manage inventory, transact, or just to share and discover.”
The startup said in its statement that it will be using the new round of money to accelerate its growth.
“Scalability is critical for any network, and Snupps has been able to reach one million users quickly based on strong word of mouth and social media sharing by users,” said Paul Rebeiro, GM at Dubai's AMSAF Investment LLC, the only named investor in this round.
This $4.75 million figure marks the company’s second round of seed funding. It previously raised $5 million in 2014, led by Amr Zedan, chairman of the Zedan Group.