Finland money

Finnish social shopping app Blidz raises €6 million from General Catalyst, Peak Capital

Helsinki-based Blidz, a social shopping app combining gamification and social group buying, announced on Wednesday that it has raised €6 million in its Seed funding round.

The startup says the product will be used to accelerate its growth in Western markets and expand its supply chain and product line.

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Investors in this round

The investment was led by General Catalyst, a venture capital firm that makes early stage and transformational investments, and Amsterdam-based Peak Capital, a venture capital firm backed and 100% managed by entrepreneurs who founded tech behemoths like Booking.com and entrepreneurs in various industries, from logistics to FMCG and beyond.

The round also saw participation from D4 Ventures, Fabric Ventures, FJ Labs as well as existing investor IPR.VC. A group of angel investors, such as Youngme Moon and Christopher North, also joined the round.

Adam Valkin, MD at General Catalyst, says, “The founding team of Blidz has a number of unique ideas about the evolution of e-commerce. They are creating a new customer experience in the West by combining social media, gaming and shopping into an entertaining and easy-to-use data-driven platform. We are excited to see what emerges from this talented team.

A social shopping app

Founded in 2017 by Lasse Diercks and Markus Haverinen, Blidz aims to disrupt the traditional online shopping model in Western markets by freeing users from costly and boring shopping experiences.

Blidz is a social shopping app that combines social group shopping, gamification and shopping features to allow users to leverage their own activity and social networks to get good value products quality-price with a “significant” discount.

Their portfolio consists of curated products ranging from consumer electronics, fashion, groceries, home and garden products to virtual items that can be purchased within the app.

Lasse Diercks says, “Western online shopping is lagging social adoption. Our goal is to free consumers from costly and boring shopping experiences by allowing them to leverage their own business and social networks to get the best products at the best value. Western consumers are adopting social and gaming solutions. We see great untapped potential in e-commerce to put our users first and continue to grow our value-added shopping app. »

According to Blidz, it uses value-for-money products as its spearhead and appeals to a wide audience. Major early adopters include women in rural and urban areas as well as Gen Zers and students, who seek out the best deals online, preferably with friends.

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