Mobile retailing app business Octer is launching a new crowdfunding campaign on Seedrs and is looking to at least match the $1m raised on the same platform in 2014.
Octer works with 200 major retailers in the UK – including M&S, Topshop and John Lewis. The business is growing quickly: with sales in March of this year topping the total receipts for 2014.
In May 2014 the company (trading under the name Shareight at the time) became one of companies to reach $1m on Seedrs in the quickest time. It did so in just 24 hours.
The company is claiming that many existing investors are already keen to follow their investment and it is predicting this campaign will top the $1 million raised this time last year.
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With the large increase in sales and the new crowdfunding campaign imminent, Octer is working towards the ambitious target of 500,000 app downloads by the end of this year.
The company’s co-founder and CEO Grant Slatter said the company is looking to address the challenge for “retailers attempting to break into the mobile market”.
“In the physical world major retailers converge in shopping centres and high streets to give customers the most comprehensive and efficient shopping experience possible,” he said.
“Online, however, they have grown up separately with very little tying them together. On mobile in particular, it’s hard to compare brands and prices, which frustrates consumers and reduces the likelihood of searches converting into sales.”