Growish, a Milan, Italy-based startup that allows friends and collegues to raise money and acquire gifts online, raised €500k in funding.
Backers included Anna Siccardi, Nader Sabbaghian, Antonino Pisana and Alessandro Rivetti, who are all members of the Digital Magics Angel Network.
The company intends to use the funds to expand its marketing efforts, grow in Italy via meaningful partnerships and develop its mobile app.
Founded by CEO Claudio Cubito and CTO Domingo Sarmiento Lupo, who increased its personal investment in the round, Growish provides a collective payment platform for family, friends and collegues to raise money and acquire a gift online, share the campaign with and invite other people via email and social networks. Raised the sum, it is possible to transfer the amount either on a bank account or acquire a giftcard/giftbox offered by partnering brands including Alitalia, Amazon, Cisalfa, Chicco, Coin, Eataly, Apple, Mondadori, Trony, UPIM, Zalando, Decathlon, Emozione3, etc.
The company is incubated within Digital Magics, (Borsa Italiana: DM), which will own a 43% stake of the company following the close of the round.
Growish is hiring two developers, and a digital marketing specialist.