London-based interactive shopping app Tilt has snapped $18 million in Series A funding. This follows the $3 million investment that was secured back in 2022.
The round was led by Revolut and Depop-backer Balderton Capital, which recently invested in Qargo and Checkly. The round also saw participation from TQ Ventures, Earlybird, and Seedcamp.
The fund will enable Tilt to build on the success of its live-shopping app.
Growth in live shopping sector
Live-streamed e-commerce shopping is on the rise. In China, this sector is expected to grow 25% this year. As per McKinsey, it is estimated that 10% to 20% of e-commerce shopping will happen through live-streaming by 2026. However, the UK and the US are lagging behind in this aspect.
Given this scenario, the existing social media apps like Instagram, Whatsapp, etc. have integrated e-commerce but failed to gain traction since users don’t intend to shop on their platforms. London-based Tilt aims to transform the next-gen shopping experience with its app.
The interactive e-commerce shopping app is unique in its approach as it features real-time streams offering an in-store shopping feel. The app displays deals and offers while users are on the live stream. In addition, it also holds live auctions and interactive events.
Who is behind Tilt?
The Tilt shopping app was founded by Revolut alums Abhi Thanendran and Neil Shah. While Thanendran served Revolut as the company’s first data scientist, Shah formerly led Revolut’s international expansion and authorisation divisions.
What does the app do?
Tilt’s app enables emerging Gen Z fashion brands to build and connect with communities of like-minded shoppers who can purchase products directly within the app.
Users can jump into video and live stream rooms created by brands on the Tilt app, invite friends, or chat with other shoppers. On the other hand, brands can connect their stores to Tilt in seconds to create shoppable videos and livestreams.
Users can see products in action and buy directly inside the app without redirection to another website or the need to create accounts for different stores. Tilt is still in its early stages, requiring waitlist signup. However, the company claims to have attracted 100s of brands and features tens of thousands of products, with more to come.
“Tilt has an incredibly exciting journey ahead. We are thrilled to have the backing of the exceptional team at Balderton Capital, along with our existing investors in this round. This support will enable us to scale the Tilt platform, expand the team, and deepen our engagement with our growing community,” said Abhi Thanendran, Co-Founder and CEO of Tilt.
“Our vision goes beyond simply enhancing the resale shopping experience; we are committed to building the most vibrant community in live commerce worldwide. This funding will ensure we innovate further, making each live stream not just a transaction, but a truly engaging and enjoyable experience,” said Neil Shah, Tilt Co-Founder
Daniel Waterhouse, Partner at Balderton Capital said: “Tilt has cracked live shopping in the UK: Adding over half a million users within their first year of launch – something which many of the big players have failed at despite successes in Asia. With Neil and Abhi’s relentless focus on innovative features and community engagement to deliver the best experiences for buyers and sellers alike, we’re excited to work with the team to take Tilt to the next level.”
