Australia: 500 Startups invests $704k in ShopandBox

Visual of Shopandbox website.November 2015

Melbourne-based personal shopping startup ShopandBox has secured a US$704,000 seed investment from venture capital (VC) major 500 Startups, in addition to a a group of angel investors from CMY Ventures and Waic Investment Holdings Limited.

Founded in November 2013 by Xin-Lung Tai and Rebecca Chia, the concept of the venture is peer to peer (P2P) shopping, with personal shoppers helping customers purchase items unavailable in their local territory or country, or otherwise purchase from an alternative source at lower prices. This distributed force of personal shoppers, who operate across 20 countries, help to mitigate problems associated with price discrimination and item availability in contemporary e-commerce.

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