POP UP SHOPS closes six-figure post-seed funding round
The online marketplace POP UP SHOPS has successfully completed a post-seed financing round. In addition, the cooperation with Migros Aare will be expanded.
POP UP SHOPS enables retail tenants to easily and quickly find and book the right retail or promotional space. Landlords and shopping center managers can advertise and rent their spaces with just a few clicks or receive non-binding inquiries. Contract and payments are handled online.
The Swiss company has now successfully closed a six-figure post-seed financing round - «with existing as well as new investors from the real estate, retail and shopping center management sectors», says founder and managing director Chalid A. El Ashker.
And further: «The post-seed round enables us to further develop our marketing and booking platform and meet the growing demand from landlords and tenants. Retail and the use of retail space are changing. Covid-19 continues to accelerate this trend. Demand for pop-up and promotional space is constantly increasing. Retail tenants expect shorter and more flexible leases for their stores and live marketing efforts. As a result, for many retail properties, shell leases of 10, 5 or even 3 years are no longer a viable long-term business model, and at the same time, flexible spaces such as promotional spaces are in greater demand. The shift from long-term to short-term, more flexible leases offers landlords the opportunity to restore profitability to their properties, but also requires very efficient management. With POP UP SHOPS, we offer the perfect solution for this.».
In addition, the cooperation with Migros Aare was further strengthened. «With the tools of POP UP SHOPS, we not only market and manage our flexible promo and retail spaces more efficiently, but also reach new tenants. We can use the time gained for more targeted marketing and improved curation», says Thomas Meyer, Head of Shopping Center Management.
About POP UP SHOPS POP UP SHOPS is the leading online marketplace for the short-term rental of retail and promotional spaces, partial spaces, shelves and walls - active in Switzerland, Germany, the UK and the USA. The offering currently comprises several thousand spaces worldwide and is growing rapidly. Swiss space providers include well-known companies such as Migros, SBB, Swiss Post, Wincasa and SPG Intercity. Together with the cities of Zurich and St. Gallen as well as the University of Applied Sciences of Eastern Switzerland, POP UP SHOPS is part of the "Pop-up City" project funded by Innosuisse. In 2019, the startup was awarded at the German Proptech Pitch as one of the most innovative proptech companies of the year.