Fashion discovery start-up Roposo has got another round of funding from existing investor Tiger Global. Based in Gurgaon, Roposo lets users save items from different websites and also allows brands to create official accounts. This comes within three months of $ 5 million Series A investment in the company by Tiger Global. The round was pegged at around R6 Cr ($1 Mn). Founded in 2012 as a part of their gift recommendation platform Giveter, by IIT Delhi alumni Mayank Bhangadia, Avinash Saxena and Kaushal Shubhank, Roposo has evolved into a social network for discovering online fashion brands. It recommends products from across the web – all sorted and filtered by users own taste and the latest trends.
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At present, Roposo charges merchants a commission if a consumer discovers a product on the platform and eventually ends up buying it on the merchant’s website, which is the affiliate marketing model. The company claims it has more than 1 million active users on the app and its future is tied into the rapid rise of India’s e-commerce market, which is set to become the fastest-growing in the world. The main aim of these discovery startup is to generate user-generated content and build a social platform with a more focus on personalization. “Revenue is not a focus area for the company”, he told TOI.
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Fashion e-tailers such as Myntra, LimeRoad, Voonik and Memoirs among others are promoting social commerce to keep consumers engaged on their platforms through a content and community-driven approach, apart from the traditional discount-led retention strategy.
