American social e-commerce Flip raised $60 million in Series B financing! Valuation: $500 million!

Flip, a US social e-commerce platform, has raised $60 million in Series B funding, with a current valuation of $500 million as the company continues to expand its social e-commerce platform and strengthen brand relationships. This round of financing was led by WestCap, with participation from previous investors Mubadala Capital and Streamlined Ventures, bringing the total financing amount to $95 million.

The Los Angeles-based company, co-founded in 2021 by CEO Noor Agha and Chairman Jonathan Ellman, provides brands with a platform that combines social discovery with e-commerce. Shoppers can watch user-generated 60-second shopping videos about different products and enjoy one-click payment and same-day shipping.

CEO Agha said: “Through our patented technology that dynamically connects digital content to physical products, we have developed a seamless loop from discovery to purchase where users can instantly shop through content, share their own video reviews of the products they purchase, while monetizing their content over time. This is the beginning of the next era of e-commerce.”

The next-generation e-commerce platform combines a TikTok-style discovery experience with premium e-commerce services, and has seen a 500% increase in its customer base and a 600% increase in transaction volume since the beginning of the year. Flip said it will invest heavily in expanding its team, deepening brand partnerships and launching its own third-party social commerce marketplace.

It is learned that WestCap Vice President of Investment Tina Yuan will join Flip's board of directors, and WestCap partner Brian Reinken will serve as a board observer. As a major investor, WestCap will also provide its expertise in expanding and operating leading technology markets. Laurence Tosi, founder and managing partner of WestCap, said: "Flip cleverly combines complex technologies to redefine and enhance the way we discover products and shop online."

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