Ukrainian startup Wishround has announced getting into the acceleration program Wayra which is held by the telecom operator Telefonica, according to AIN.ua. Wishround disrupts the way people choose and buy presents for their friends. The founders say that buying a perfect present is hard, even harder is putting the money together with your friends. The application lets you specify the item you want, send link to your friends and crowdfund buying it. On the other hand, the service monetizes via its B2B partner program offering businesses to sell its products as presents on the platform.
During the acceleration Wishround shall get £ 34.000 as a convertible note, the office space in London for 8 month, mentorship and the direct contact to the local investors. This year the program is also organized together with the largest online fashion and beauty e-commerce retailer ASOS. The main goal is to help startups reach the point of operational break even, and then help to expand further by raising at least $1 mln Series A rounds.
“We were not considering WAYRA as an option for us. But when we met Garry Stewart at SVOD in Dublin it appears that they are getting ready to launch a program with big online fashion retailer. At that time we did not know it was ASOS but any option would work for us as the UK market is a strategic next step for Wishround. Basically from partnering with ASOS we expect getting deeper insights and launch Wishround on British market. Having ASOS as a partner means having a decent way to test our hypotheses and pilot different ideas. By the end of 8 months program we hope to hit operational breakeven and secure Series A funding.” – says Wishround CEO Vitaliy Kedyk for 150sec.
Wishround claims to be growing its revenues by 20% monthly and is currently operating in Ukraine and Poland. In the latter it has encountered several market entry problems and still is searching for the ways to ramp up its operations.