Ärileht: Fits.me raised 5.5 million euros of investments

The virtual fitting room provider Fits.me has closed a new round of investments, raising a total of 5.5 million euros.

The Fits.me virtual fitting room is developed and marketed on the basis of the Software as a Service (SaaS) model. The service is designed for online clothing shops, helping them to reduce the number of clothing returns and thereby increase the net profit of the online shop.

Besides the traditional product development, new investments will also be channelled into developing a more powerful sales and marketing strategy, said Heikki Haldre, head of Fits.me in a press release. The plan includes moving into Germany, France and other EU countries as well as the US market.

“Although more and more sales are moving online, there are still areas in which the real Internet boom has not arrived yet,” Manu Mäkelä, partner of the investment fund Conor Venture Partners commented. “Clothes retailing is at the forefront of such areas, as buying clothes is quite a subjective process.”

According to Mäkelä, Fits.me has developed a solution that works, shows great results, is easy to integrate into a clothes shop and is already being used by several world-renowned brands. “For an investor, these are signs of huge growth potential,” Mäkelä said.

Fits.me has recently signed contracts with Adidas, Hugo Boss, L.K.Bennett, Nicole Farh, Superdry and Mexx.

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