Spanish startup Lookiero, which provides online personal shopping services for women in Spain and France, has raised €4 million in a funding round led by All Iron Ventures. The company wants to use the capital to fuel its expansion in the UK market.
Founded in 2016, Lookiero is an online personal shopping service limited to female customers. It claims to have more than 250,000 registered users in France and Spain, though won't disclose the number of active users. On the platform, users indicate their size, tastes, and preferences, and then receive a package with five clothing items and accessories chosen for them. The customers are free to keep as many items as they want—although they get a 25 percent if they keep all five.
The selection of clothes to deliver customers is done by a team of personal shoppers of about 50 people, assisted by AI-powered suggestions. In total, Lookiero employs over 100 people.
Lookiero launched its platform in the UK earlier this month. It is also considering entering more European markets in the future. The startup has reported an eightfold increase in revenues from 2016 to 2017 and expects to achieve a three-digit growth in 2018.