Tinder Reveal Investment
Tinder for retail buyers platform secures Â£300,000 investment.
17:42 10 June 2019
Glasgow firm Product Guru’s technology, which has been described as ‘Tinder for retail buyers’, has secured a £300,000 investment from Asia-based retail technology investor Belmond Capital, Scotmid and Scottish Enterprise. The platform has been designed to assist buyers in finding the right suppliers with new products to stock. It is free to use but users who wish to access product engagement data, sales analytics and product trends will need to sign up for a paid subscription.
Simon Coyle, who launched Product Guru in September 2018, said: “After running my own companies for nearly 20 years, I have first-hand experience of how difficult it can be for emerging brands to get their products in front of retail buyers.
“From the retailers’ point-of-view, they may have lots of customer-facing modern technologies in their stores – such as automated checkouts or digital ads – but Product Guru is the first technology platform to shake-up their back-office product discovery operations and make it easier for them to discover the latest trends and find exciting new products for their customers.”
He added: “This £300,000 investment will allow us to further develop our platform for both buyers and suppliers with analytics and intelligent recommendations, while marketing our services to a much wider audience.
“Buyers are pushed for time, so Product Guru makes it quicker, easier and – ultimately – cheaper for them to connect with potential suppliers.”