RTE style stars look Stateside to raise millions for app
SONYA Lennon and Brendan Courtney are embarking on a €1.5m funding drive and temporarily moving to the US as they push to expand their fledgling fashion app.
The pair are engaged in "four or five" discussions with groups of investors, Lennon said. This includes Astia, the global network of investors who are especially interested in female entrepreneurs. Early investors include Enterprise Ireland and the NDRC.
The stars of RTE fashion show Off The Rails have raised just €200,000 so far for fashion app Frockadvisor, so their new fundraising goal of €1.5m (which they aim to hit in six to nine months) shows just how confident they are.
Frockadvisor provides a platform for fashion fans and boutiques to connect, including a retail function. It was devised in response to the poor online presence of small labels. Just 19pc of independent retailers have websites. Already running in Ireland, where about 50 boutiques have signed up, it will expand into the UK next February.
The pair will temporarily move to the US after making progress in two start-up accelerator programmes based in Silicon Valley.
This includes 500Startups, the investment competition run by famed US angel investor Dave McClure, and Google's Blackbox Connects Silicon Valley programme.
Sunday Indo Business