Metail raises £2.6m in first funding round

Angel investors also took part in the round. Metail had previously raised £2.8m from angel investors and a TSB R&D grant.

New World Private Equity Partners makes investments of £500,000-5m in management buyouts and buy-ins, growth capital transaction and replacement capital deals. The firm targets UK-based companies in the fashion and retail, leisure and consumer financial services sectors.

Company
Founded in 2008 and based in London, Metail is a virtual fitting room service for fashion retailers. Users are able to create a 3D model of themselves by uploading two photographs and inputting measurements. They can then try on clothes, see how the garments fit and share looks.

The company employed 27 staff at the start of 2013, but headcount has since grown to 40. As a result, the firm is moving to new headquarters in Whitechapel.
Customers include Tesco, Warehouse and the Shop Direct Group in the UK, Zalando in Germany and SingTel in Asia.

People
Stephen Altman and Nigel Berger are partners at New World Private Equity Partners.

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