Two Shields Investments (TSI) , the firm focused on fast growing digital and technology enabled businesses, announced on Monday its completed £400,000 investment of WeShop Limited.
TSI now holds a total of 7.57% of WeShop following the investment made by way of equity subscription for 66,890 ordinary shares.
"I'm delighted that TSI is continuing to support the business and share our confidence in the opportunity that social commerce and WeShop represent,” said CEO of WeShop, James Sowerby who previously led one of the most successful global social selling networks, Avon Cosmetics.
The Board at Two Shields say that it is firmly within the interests of its shareholders to continue support of the business, describing its progression as a “highly exciting period of execution and user growth.”
The company explained that they had made particular progress in delivering important milestones within areas such as the branding, functionality and user experience of the WeShop platform.
The launch of WeCoins™ launched by WeShop to drive ongoing engagement and retention of users has already proved promising within its phase 1 launch.
WeCoins™ are earned for the creation and distribution of quality content, shopping, and browsing via WeShop platform — they can be redeemed with over 100 redemption partners from Uber to Starbucks,.
The upcoming phase 2 will allow users to redeem their live WeCoin™ balance against products on WeShop, in combination with cash, creating a “true ecosystem” for the platform.
Andrew Lawley, Chairman of TSI specified that WeShop’s recent developments have strengthened the position of the business and they are now looking ahead to focus on its users as well as further partner opportunities.
Commenting further on the investment, Mr Sowerby added, “The timing is perfect for WeShop to take advantage of this opportunity, so we're really excited about our plans that are taking shape for 2020."
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