BagThat nabs USD3.2 million for online shopping

Combining daily deals and auction bidding

British e-commerce firm BagThat has raised GBP2 million (USD3.2 million) from Oxford Capital to expand its online shopping service. The startup offers a social shopping platform that combines daily deals and auction bidding for goods and services such as consumer electronics, apparel and beauty treatments. Once deals close, the firm analyses all bids and calculates a final price based on buyers’ offers. The website is using PayPal for all transactions.

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