Livingbridge backs e-commerce startup Moteefe
Moteefe, a platform that allows entrepreneurs to sell customised products through social media, has announced investment from private equity firm Livingbridge.
Livingbridge, which has also backed online cycling retailer Wiggle and fashion marketplace SilkFred, invested £500,000 in the London-based venture in 2017 and has now stumped up £1 million as part of Moteefe’s latest funding round.
“10 years ago, you would have needed significant investment, real estate and other overheads in order to create your brand. Now, with our platform, you can customise and promote your own brand in just a few steps, and then sell it through social media,” says Mathijs Eefting, CEO at Moteefe. “We are a rapidly growing business and this investment, alongside the guidance from Livingbridge’s experienced team, will help us scale our business and take advantage of the changing face of social commerce.”
Steve Cordiner, Investment Director at Livingbridge, adds: “There has been a complete change in the way we shop, and increasingly with the influencer market, there is even more of a desire to promote your own personal brand. Moteefe provides a platform that recognises this change in consumer behaviour, and already has thousands of sellers globally. Our aim is to find high-growth companies that are pioneers of change, and are disrupting the market.”