Leap, a retail-as-a-service provider, launches a store by raising $3M in seed funding

by anne jane in funding on 2nd November 2018

The retail industry is becoming a dynamic one, which is catering to adapt the customer needs. For the last few decades, the retail industry has seen the golden era of direct selling to consumers. Leap, a retail industry has set up DNVBs(Digitally Native Vertical Brands) which uses the internet to spread the information to consumers, handle distribution, execute a transaction and offer better business. No matter how much the business changes, the idea that customer is king will remain the same.
The retail industry has evolved taking into consideration selling and buying of products and services to consumers by different distribution channels. Recently after the internet has come into the picture it has changed the scenario. After the internet retail industry has taken a further step in interacting with customers directly. By choosing to sell the software called brick and mortar, Leap completely acts a Retail-As-a-Service platform. 
Leap is launching the platform called Retail-As-A-Service, a choice for initial brand industry. This platform works on all the aspects of operations and store development which includes staffing, physical space and maintaining all the technological infrastructure. This helps the coming generation consumer brands to develop faster and deepen their brand knowledge.

Leap’s primary focus is transforming the retail firms by developing a platform and empowering the best brands. Data-driven operations do this and provide insights which they need to create marvelous products and consumer experiences. However, developing an efficient brick & mortar presence is expensive and risky which requires sources outside the core competencies.

$3M seed funding

Recently, Leap has announced that it has launched the platform to make digital brands launch their high impact retail stores swiftly and without any risks. It has done this as they declared of opening their first store in Chicago, for Koio. To support Koio, they raised $3M in seed funding, directed by Costanoa Ventures. Other investors include Brand Foundry Ventures and Equal Partners.
Seed funding is regarded as the starting stage where a venture contacts the investors for funding their idea or product. During this stage, a company has to satisfy why their product or service is worthwhile.
For Koio, the leap’s brick-and-mortar platform is advancing its store footprint turnkey by eliminating the necessity for the brand to build-out, lease and manage daily operations for each store location.
Co-Founder of Koio, Chris Wichert has shared his experience by saying that their retail footprint will grow efficiently and quickly while working with Leap. They are delighted to associate with Leap and extending to build their stores even in Miami, San Francisco, and many more locations.

Benefits for brands stores

Leap makes a distribution of retail brand experiences comfortable by seemingly integrating brand experiences with customer service by data-driven operations. Featuring compelling brand experiences which employ customers and drives word-of-mouth. Apart from helping brands designing and building their retail stores, Leap also provides omnichannel consumer service like essential in-store shopping,  Mobile checkout, and buying online and exchange in any of the Leap store.

Leap delivers the experienced services concerning brand stores
Rapid Expansion: Generally startups are interested in expanding their business fast to attract customers. Leap makes it easy for every partner who associated with them.
Provide passionate customers: Every brand wants the consumers to love them because they knew this builds loyalty and increases the revenue. Leap provides this facility too.
Zero leasing risk: A lease is a contractual agreement inviting the lessee to pay the owner for use of their platform which is free.
Apart from the above it also provides benefits of Online sales lift, Reduced development expense, Cost-efficient operations.

Conclusion

On the whole, Leap simplifies the process of DNVB’s into a single line. This allows them to focus on brand building and supply chain management insignificantly than a retail strategy to work faster. With the recent fundraising activity, the company is hoping to expand its team and launch it in new locations. In long run, Leap’s founders are hoping to expand a vast network of sites to help and provide intelligence in and around the shopper’s preferences with new stores expansion.

 

Categories: funding Startup

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