Papèm, an Italy-based mobile retail solution, has raised €430,000 ($462,000 at current exchange) in angel funding.
Investors in the round were undisclosed.
Alberto Lo Bue, Carlo Alberto Lipari and Roberto Pirrone, founded Papèm in 2016 as a smartphone app that helps users geo-locate products, clothing and design shops in the city they’re in.
The app lets shoppers search specific products, check for sizing availability and receive discounts and rewards for using and shopping with the app’s partner stores, FinSMEs reports.
According to company executives, the app is currently has 20,000 users who interact with and shop from 200 stores and brands.
As of now the app is only in two cities — Milan and Palermo, Italy. The new investment will be used to expand the app to new cities and launch new features.
“The closure of this round is a crucial step for Papèm and for its growth,” Lo Bue said in a statement. “For many of our partners Papèm is the only multi-channel instrument, for others it is the only mobile presence. The Milan and Palermo results show that the app has the potential to become the best companion for anyone shopping, supporting the consumer on different touchpoint from home, on the move and in the shops.”