Oxford Capital leads £2m round for BagThat

Oxford Capital invested alongside syndicated private individuals. Negotiations for further investment from insitutional parties is underway.

The investment will underpin further site development and an increased focus on marketing.

Company
Based in Milton Keynes and founded in January 2011, BagThat is an online store that allows buyers to decide how much they are willing to pay for certain branded goods. The company launched on 1 May this year.

The site combines auction buying and group purchasing power to reduce prices on gadgets, fashion labels, wine and leisure activities. The more people that make a bid via social networking, the lower the price of the item.

People
Colin Watts is investment director at Oxford Capital and led the deal. Andy Sutton is founder and CEO of BagThat.

Advisers
Company – Everyman Legal, Ed Burrell (Legal).

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• Topics
• UK / Ireland
• Technology
• Expansion
• United Kingdom