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Scottish fashion app Mallzee raises £500k investment

Fashion startup Mallzee has announced a £500,000 investment.

The funding comes from a range of leading investors – Par Equity, the Scottish Investment Bank, and angel investors including Gareth Williams, CEO of Skyscanner, and serial investor Rob Dobson.

Only a year old, the Edinburgh-based company plans to use the money to expand internationally and to double the size of their small team – currently 14 employees.

Of the investment, CEO Cally Russell said, "It's great to have been able to pull together such a great group of investors in such a short space of time. In the last 12 months we've started to change the way the world shops with our mobile focused approach and this proves that we're going in the right direction."

Paul Munn, director at Par Equity, said, "Retailers want technology to help them make sense of the market. The team at Mallzee have made significant progress to date and this investment will provide a runway for the business in its next stage of growth and development."

Kerry Sharp, head of the Scottish Investment Bank, said the investment was "a real testament to the management team and the potential of the product."

Mallzee pulls together items of clothing from top fashion brands and describes itself as a "personal shopper in your pocket". ASOS, Topshop, Urban Outfitters and River Island, amongst others, have already signed up to the service.

ITProPortal first met Russell at the inaugural outing of FashTech, a series of monthly events that bring fashion and tech together. There he described the Mallzee app as a "cross between Whatsapp and Tinder" for the fashion shopper.

"By the end of 2014 we aim to increase our user base from the tens of thousands to 250,000 shoppers all around the world," he said of the investment.