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The social commerce app, Picker, closes an investment round of 3.4 million euros

One year after getting 1.3 million euros from btov Partners, Picker, the social commerce startup has added another 2.1 million to successfully close a financing round that amounts to 3.4 million. This investment extension has been led by the US firm Luxor Capital. European venture capital firm btov Partners renews its commitment to the company by increasing its investment as part of the extension of the financing round.

Founded in 2018 by Daniel Ramos, Conan Moriarty and Enric Gabarró, Picker offers a marketplace that allows users to discover and buy products based on the recommendations of their favorite creators, their friends and other users in the community. Currently, its application for both iOS and Android works in Spain, Germany, Austria and Switzerland.

Picker’s mission is to help people “shop better together,” they do so by enabling users to discover and buy the best products online that their friends, family and digital content creators already use. The company provides a platform for users to follow, for example, to your favorite Instagram or Youtube creators and buy category-specific products inspired by their trusted recommendations. The app wants to be a win-win for all parties since users can not only find good products, but pickers also take a commission every time someone buys the products they have recommended.

Picker has more than 3,500 creators who regularly share their favorite picks on the platform. In September 2021, the app surpassed the 850,000 monthly active users mark. Since its inception, Picker has grown 250% annually in the gross merchandise volume (GMV) it has generated for its partners through the platform. In 2021, the company expects to generate 9.1 million euros for brands and stores whose products are sold thanks to the successful recommendations in Picker.

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“With this new investment, we reiterate our mission to help users ‘shop better together’, rather than simply buying more products online. We are very grateful for the support received by investors that we had already had since 2020 and proud to have been able to close a new round of financing with them and with one of the leading venture capital firms in the United States. Our goal is to use these funds to hire exceptional talent that will help us accelerate our growth in both the markets we already operate in and the markets we plan to start operating in.“, Indicated Enric Gabarró, Co-Founder & CEO, Picker

A new investor with a remarkable track record

The new funds will serve to assist Picker’s growth and international expansion. Given the remarkable track record of its founding team in e-commerce and content creation, the company’s goal is to become a marketplace that outperforms other existing social platforms by focusing on buying better rather than consuming content. For example, it is among their plans that Picker users can buy products without having to leave the app so that their online shopping experience occurs in one place.

To accelerate the development of the startup, Luxor Capital has joined the group of existing investors behind Picker, including btov Partners and business angels as Andreas Mihalovits and senior executives from Pinterest and Farfetch. Luxor Capital is known for its investments in successful digital technology companies. Among others, the investment firm has participated in the financing rounds of leaders in the online delivery sector such as Glovo from Barcelona or Gopuff from the United States.

We believe 100% in Picker and its founding team. Product recommendations are going to be key to the vertical growth of Social Commerce. Thanks to stellar execution and careful product enhancements, Picker has grown in purchase intent by its users more than 500% per year. We are convinced that Enric and his team have built the foundations for a new leader in its category within Social Commerce ”.

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