Wanelo bags USD2 million for social shopping site

Expanding operations and developing new products

User curated e-commerce site, Wanelo, has inked USD2 million in a funding round led by FloodgateFirst Round CapitalForerunner Ventures and a host of angel investors. The San Francisco-based firm’s online platforms let users set up a profile which they can use to organise, curate and publish wish lists of unusual clothing, accessories and household goods from online stores. Items posted are ranked by other users and move up visual feeds according to popularity. The firm, which says it does not yet have a revenue model, says it will use the capital to expand its operations, hire new engineers and designers and develop new products.

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