Berlin-based online discount store Lesara has announced a seven-digit seed funding round from Partech Ventures, Paua Ventures, Simile Ventures, Taishan Invest and business angels.
Launched in November 2013 by German serial entrepreneur and ex-Fab executive Roman Kirsch (pictured above), the platform aims to bring offline discount companies such as Aldi, Lidl and Target into the digital realm. Kirsch says this is their USP – while there are many eCommerce stores, he told us they are the only discount specialists.
In a press statement, the company states it stocks more than 3,000 products including clothing, jewellery and household goods. Its business model focuses on providing a best-price guarantee, enabled by exclusive deals with manufacturers around the world. Currently only available in Germany and Austria, Kirsch told us that an expansion to other countries in Europe is on the cards in 2014. The funding will be used to grow the Lesara team – with a focus on the marketing department – plus to improve the product and work on a mobile app.
“With our new investors we are hoping to benefit from the large know-how regarding merchandising and category management as well as the huge network of manufacturers and importers”, Kirsch said. “Our customers appreciate our best price guarantee and the no-frills, easy shopping experience. On our website users can find a constantly changing, exciting mix of everyday products they love and need.”
Kirsch already has one exit under his belt – he sold shopping club Casacanda to Fab in early 2012, staying on to help Fab expand in Europe. He left the company before it announced mass lay-offs in Berlin and New York mid last year.