5 years ago

Purple Dot Raises €1.49 Million to Disrupt Fashion Industry with Fintech Solution

  • Purple Dot, a London-based startup, has raised €1.49 million in seed funding from Connect Ventures and other investors to disrupt the fashion industry with its new fintech approach

  • The company helps fashion brands reduce losses from end of season discounting by allowing consumers to request a ‘worth-the-wait’ lower price.

      • ProblemTechnology

      "Fashion brands are losing money due to end-of-season discounting and wasted inventory. Customers are often forced to pay full price or miss out on items they want because they are out of stock in their size."

      Solution

      "Purple Dot offers a 'worth-the-wait' payment option that allows customers to request a lower price on items they want. Retailers can then decide whether or not to release the product at a slightly reduced rate. This helps brands reduce losses from discounting and allows customers to get the items they want at a price they can afford."

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