Tilt, an app on a mission to create a category-defining shopping experience for digital natives, has raised €16.1 million. The Series A round was led by Balderton Capital with participation from existing investors TQ Ventures, Earlybird and Seedcamp.
Founded by two early ex-Revolut employees Neil Shah and Abhi Thanendran, Tilt is a real time shopping platform aiming to redefine the ecommerce space by becoming the world’s number one destination for fashion.
According to its founders, transforming how we buy and sell online, Tilt is reintroducing the human element through real-time interactions and community engagement, ensuring the experience is both authentic and fun.
This funding will propel Tilt towards its goal of becoming the leading fashion super app, with diverse real-time shopping formats, each with their own unique twist to help: sellers sell fast and buyers find unbeatable prices.
Co-founder Neil Shah comes from Revolut, where he was the fifth employee, leading the company’s international expansion and authorizations divisions. CEO and co-founder Abhi Thanendran, previously a quant at hedge funds in New York, joined Revolut as one of its first thirty hires and the company’s first data scientist. He went on to build and lead the data team.
“Tilt has an incredibly exciting journey ahead. We are thrilled to have the backing of the exceptional team at Balderton Capital, along with our existing investors in this round. This support will enable us to scale the Tilt platform, expand the team, and deepen our engagement with our growing community,” said Abhi Thanendran, Co-Founder and CEO of Tilt.
E-commerce, but make it in-store
Tilt addresses several key problems in the current e-commerce landscape. For example, traditional online shopping can feel impersonal and disconnected. This leads to a passive, often frustrating experience for buyers. Additionally, the static nature of most e-commerce platforms lacks the urgency and engagement required to really drive sales for sellers.
Tilt lets buyers engage directly with sellers through real-time streams, providing instant, synchronous communication. Similar to in-store shopping, deals and offers are available only while users are actively engaged on the app, driving purchases by creating a dynamic, time-sensitive shopping environment.
Along with features such as auctions, boosts and interactive events that draw users into a lively marketplace, Tilt has surged ahead in popularity, topping UK app charts above giants like Depop and Ebay and has attracted over half a million users since its launch just a year ago.
“Our vision goes beyond simply enhancing the resale shopping experience; we are committed to building the most vibrant community in live commerce worldwide. This funding will ensure we innovate further, making each live stream not just a transaction, but a truly engaging and enjoyable experience,” commented Neil Shah, Tilt Co-Founder
Daniel Waterhouse, Partner at Balderton Capital, added: “Tilt has cracked live shopping in the UK: Adding over half a million users within their first year of launch – something which many of the big players have failed at despite successes in Asia. With Neil and Abhi’s relentless focus on innovative features and community engagement to deliver the best experiences for buyers and sellers alike, we’re excited to work with the team to take Tilt to the next level.”
Read the orginal article: https://www.eu-startups.com/2024/08/london-based-tilt-nabs-e16-1-million-series-a-to-pump-up-real-time-shopping/
