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24 April 2013

Digital commerce specialist secures £220k growth funding

Press Release 24th April 2013

A Wilmslow-based digital business has secured a £220,000 funding package from The North West Fund for Venture Capital, managed by Enterprise Ventures.

Starfish 360 helps retailers to increase sales by engaging with consumers through digital devices such as mobiles, tablets and laptops. The funding will help the business to grow, expand its skill-base and forge new partnerships.

The North West Fund for Venture Capital is part of The £155 million North West Fund, which is provided jointly by the European Regional Development Fund and the European Investment Bank.

Established in 2010 by Chris Brassington, the current CEO, Starfish 360 brings together digital commerce and marketing experts to support retailers across a range of sectors, from supermarkets, food and fashion to finance and retail banking.

Chris Brassington says: "The potential for integrated, multi-channel customer service in the retail sector is huge. We have the expertise to unlock that potential for retailers and deliver more sales, increased loyalty and long-term operational savings. We're delighted to have secured growth funding which will help us expand the business, add to our skill-base and forge new partnerships."

A new research paper on the future of mobile commerce, published by Strategy Analytics, reveals that 67% of smartphone owners use their phones to find deals and compare prices. Research by Deloitte Digital estimated the value of direct purchases made through phones to be £8 billion in 2012.

Doug Stellman of Enterprise Ventures said: "The retail sector is undergoing dramatic changes. With social media and mobile channels playing an increasing role in driving sales, businesses which can offer expertise in digital strategy and e-commerce will be in demand. Starfish 360 is working with a range of blue chip clients. This funding will help it to fulfill its growth potential."



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