Fashion Evolution raises R4M to expand Springleap

Published by Charl Norman on Oct 7th, 2009, No Comments

This just in – Cape Town based Internet Startup, Fashion Evolution Holdings, has raised a further R4M ($0.5M) in its second round of funding, with the aim of commercialising its social network, crowdsourcing, & eCommerce web based software platform, to be used to launch further internal brands, as well as being used for powering 3rd party websites.

Fashion Evolution’s first brand, springleap.com, launched 18 monthsago, and has become the largest crowd sourcing website in South Africa.

Eran Eyal, Fashion Evolution co-founder stated that “we’ve completedstage 1 of our business model, which was the launch ofspringleap.com, and the R4M will allow us to take our vision to thenext level, as we focus on further developing & improving allcomponents of our web platform, in addition to expanding the productrange from T-shirts to multiple products.”

Eric Edelstein, CEO & co-founder added: “Imagine a large company suchas a beer company, creating a new name for a beer. Using our web based platform, in a matter of weeks, not only can they have a fully functioning 100% branded crowdsourcing, social network website centered around their offering, but using our unique methodology,they can also have a community of people wanting to get involved.

We previously covered Springleap here.

Popular Now: The 'Agile Working' Unilever Offices, Switzerland