Stylerunner twins elevate $ 1.6 million for his or her new purchasing startup

A brand new purchasing app developed by the dual sisters behind Stylerunner has raised $ 16 million in seed funding.

The spherical was led by former banking exec Andrew Hagger, CEO of Fortescue founder Andrew Forest’s household funding agency, Tattarang and his charity arm, the Minderoo Basis, supported by ASX-listed Contact Ventures.

Sisters Sali Sasi and Julie Stevanja launched a “curated purchasing and discovery app”, Her Black E book, late final yr.

It’s now a decade because the pair based the ecommerce activewear website Stylerunner, which slid into administration in October 2019 proudly owning hundreds of thousands of {dollars} to collectors. The model survived when it was acquired by footwear firm Accent Group simply weeks later.

The twins introduced their return to entrepreneurship with Her Black E book late final yr, describing it as “a sensible new answer for the patron to avoid wasting them money and time; and retailers, a premium incentive vacation spot that higher aligns with their model’s fashion and values ​​”. It’s designed to draw and interact Gen Z, Millennials and discerning girls who love to buy.

The enterprise launched with a $ 5 million valuation, with the elevate upping that determine by 50%.

Extra that 500 manufacturers have signed on, and types can accomplice straight through Her Black E book’s accomplice portal, or join through affiliate channels resembling Fee Manufacturing facility, Awin and Rakuten.

The ‘freemium’ app will permit customers to obtain and browse affords and promotions together with cashback without spending a dime, with the choice to subscribe to 12-months ($ 24.99), 6-months ($ 14.99), or 3-months ($ 9.99) + GST ​​for full entry to flash gross sales listings and notifications from most popular manufacturers.