BagThat Trading Limited, a UK online store that captures social network buying power to deliver deals on branded goods, had raised £2m (approximately $3.2m) in funding.
The round led by Oxford Capital. Additional investment from institutional backers is planned.
The company intends to use the funding to expand its product development and marketing efforts.
Led by Andy Sutton, Founder & Chief Executive, BagThat Trading
BagThat has developed an innovative online shop which lets buyers decide how much they are willing to pay for branded goods. The site offers discount deals on gadgets, fashion labels, wine and leisure activities.
Top brands, such as Samsung and Halfords have already signed up.