Finnish e-commerce Starcart raises €3.5M in a seed round
Helsinki-based e-commerce platform Starcart raises €3.5 million in seed funding round to expand into new European markets. Inventure VC led the round, which also saw participation from Business Finland and several angel investors, Tech.eu reports.
- Founded in 2020 by Pasi Ilola and Lauri Piispanen, Starcart is a platform for online shopping that works like an aggregator. The solution utilizes AI to automatically identify online stores where consumers can find their desired products, simplifying the process and making it more affordable and faster.
“The reception has been overwhelmingly positive, with customer satisfaction at 4.5 out of 5 stars. The feedback from merchants has also been very positive, with the low barrier of entry into the platform especially appreciated,”Pasi Ilola, founder and CEO of Starcart, states.
- Inventure VC is the lead investor in Starcart. It is a Helsinki-based VC firm with over 70 companies in its portfolio, including Wolt, Detectify, Blueprint Genetics, and others. In July 2022, the firm supported Starcart during its first €1.4 million capital raise.
- Business Finland, Finland’s official government agency for trade and investment promotion, also participated in the round, along with unnamed angel investors.
“In the near future, we’re planning to also make it easy for consumers to shop sustainably, by introducing second-hand stores and recommending sustainable products and shipping method options for our customers. We’re rapidly headed toward our ultimate vision, which is making Starcart the only shopping tool you’ll ever need. And this seems to be something that people really want, as it makes their everyday lives easier,”Pasi Ilola added.
- Starcart will use the funds to further develop its product, as well as accelerate the expansion into new European markets.