Fitbay, the discovery platform that solves the problem of buying clothes online in the wrong size or style, has closed a $2 million seed funding round, lead by New York-based Steadfast Venture Capital and Stockholm-based VC firm, Creandum. This $2 million investment comes just 6 months after Fitbay closed an angel round with Jesper Buch (Founder of Just-Eat) and Creandum.
The latest funding will be used to grow both the product team in Copenhagen and the commercial team in New York, and to develop the product and available features even further. This announcement also coincides with the launch of Fitbay’s new iOS app, which allows users to share pictures of themselves with their network of ‘body doubles’, and actually see how items of clothing fit other people with a similar body shape and size to their own.
The idea behind Fitbay: The Danish startup wants to remove the “will-it-won’t-it fit experience” from online clothes shopping by only showing users clothes that will fit their unique size and shape. Fitbay does this by connecting users with similar body types and style preferences, sorting them into groups so that information on fit and particular brands can be shared with other users who have similar body shapes and tastes. This crowd-sourced feedback allows Fitbay to provide its users with a personalised feed of products that will both fit and flatter their unique body type – all without having to input measurements. Users can also follow their ‘body doubles’, sharing tips and inspiration with others who will have similar experiences with the style, fit and sizing of different brands.
Having been invite-only since its launch in February 2014, Fitbay is now available to the general public as an open beta on the web and iOS. Having grown an average of 110% per month, Fitbay is now able to recommend and link to over 2 million perfectly-fitting products for its users, from brands both big and small across the web. Founded in Copenhagen (in 2013), and with a commercial office in New York, over 40% of Fitbay users are based in the United States.
Christian Wylonis, Founder & CEO of Fitbay comments: “Over the past four months we have had an overwhelming response from our users, and we are looking forward to the next stage in our journey as a result of both Creandum and Steadfast Venture Capital’s backing. With the launch of the Fitbay app, mobile is a core part of our business model, and at the heart of what we offer our customers. By sharing and seeing photos of their body doubles wearing specific items or brands, users can get an idea of how certain clothes will look on their own frames, and shop online accordingly. We describe this process as ‘selfies with a purpose’ because it’s the first time that selfies actually have a practical application.”