Aarhus-based Mikkel Salling, Jesper Hvejsel, and Stefan Rosenlund, three well-known e-commerce entrepreneurs, together with early-stage VC Founderment, invest €800k in Relewise as pre-seed capital.
The additional funding will help e-commerce companies raise average basket size and customer retention through allowing more individualized user experiences.
Co-founder and CEO Brian Holmgård Kristensen said, “In the highly competitive e-commerce market, businesses need to differentiate in order to establish a connection with consumers. By personalizing the user experience, the consumers not only buy more but also return more often. With our experienced group of investors supporting us, we’re now ready to expand and help businesses outside of Denmark,”.
Relewise developed a solution that enables e-commerce businesses to improve and customise the online user experience. After forming fruitful agreements with more than 70 of Denmark’s top e-commerce companies, including Sstrene Grene, CHANGE Lingerie, and Stark, they have now raised €800,000 to broaden their operations into new regions.
Read also – UK-based myenergi secured £30m in Funding
The Relewise technological advances automatically selects and suggests the most pertinent products to the user by assessing and adapting to real-time user activity on webshops, such as different hobbies and behaviors.
This action takes less than two milliseconds, meaning the user finds what they’re looking for quickly, enhancing the user experience. Relewise is planning to expand its footprint in Scandinavia, the Netherlands, and Germany. Until date, the platform has primarily been used by Danish webshops.
Relewise was founded together in 2020 by Brian Holmgrd Kristensen, Sune Hansen, and Ronnie Balle, all of whom have worked as e-commerce consultants. They started on the Relewise journey, which now has a staff of 14 people.
The co-founders claim that due to their years of working in e-commerce, they have seen the profound impact that offering a unique and memorable user experience can have on customer retention and growth.
In that regard, they think that consumers will learn that they can trust that the brands understand them more, urging a more devoted relationship with clients that, in turn, aids in the growth of enterprises.
Read also – Lisburn based Cirdan Secures £2.3m in Funding