Finnish social e-commerce platform Blidz raises €6 million

Social e-commerce is becoming increasingly popular, such as Facebook, Tik Tok, etc. More and more social media are beginning to increase their investment in e-commerce. In line with the trend, a Dutch social shopping app recently announced a financing of 6 million euros.

Founded in Finland, Blidz aims to change Western e-commerce through social and gamification mechanisms , where users can buy millions of products together at great discounts. Currently, the shopping app's product range covers consumer electronics, fashion, groceries, home and garden products, and virtual items.

Early users of the app were women in both rural and urban areas, as well as Gen Z and students. Since its launch in 2018, Blidz’s user base has grown 1,500% per year.

Consumers share the products they purchased through social media . If someone else buys the same thing through sharing, the user will get the product at a discounted amount , with a maximum discount of 95%. Even if the recommendation is not successful, the user can still get store points from Blidz.

This way of shopping is not very popular in the West . Blidz said that their goal is to liberate consumers from expensive and boring shopping experiences and let them use their activities and social networks to get great value products anywhere .

With the €6 million raised , Blidz will use the funds to accelerate its growth in Western markets , as well as expand its product suite and supply chain.

Blidz founder said, " Western online shopping behavior is still lagging behind in social shopping . Our goal is to enhance the consumer experience by encouraging consumers to use their social networks to compare and purchase the best and cheapest products in the world . Western consumers are embracing social and gamification solutions , and there is a huge untapped opportunity in e-commerce that can put users first and build on valuable shopping applications like Blidz . "

After this round of financing, Blidz believes that it will accelerate the company's development in the United States and Europe and enhance its position in the Western e-commerce market.

Social e-commerce

Finland

Blidz