POP UP SHOPS raises a six-figure seed round
The Zurich-based online marketplace POP UP SHOPS has successfully closed a seed funding round with several business angels including Heinz M. Schwyter, Proptech expert and former CEO of Homegate.
POP UP SHOPS enables tenants to easily and quickly find and book the right retail or promotional space. Landlords of retail space and shopping center managers can advertise and rent out their spaces or receive non-binding inquiries with just a few clicks. Contract and payments are handled online.
Chalid El Ashker, Founder & Managing Director POP UP SHOPS:
«The seed round allows us to further develop our platform and cater to the growing demand from landlords and brands. Retail and the usage of retail space is changing. COVID-19 is further accelerating this trend. The demand for pop-up and promotional spaces is constantly growing. Brands are looking for shorter and more flexible leases for their retail shops and live marketing measures. For many retail properties shell leases over 10, 5 or even 3 years is no longer a viable business model. Changing from long-term to short-term and more flexible leases offers landlords the chance to increase the profitability of their properties, but it requires very efficient property marketing and management. With POP UP SHOPS we offer the perfect solution for that.»
Heinz M. Schwyter, Proptech-Expert and former CEO of Homegate:
«The market for commercial real estate and especially retail properties is in a state of upheaval. POP UP SHOPS is pursuing a clear, strongly technology-driven strategy and has created an innovative platform that can optimally address the existing and future market potential. I am pleased to support the POP UP SHOPS team as investor and advisor in its further expansion.»
About POP UP SHOPS
POP UP SHOPS is a leading online marketplace for short-term retail and promotional space - mainly active in Switzerland, Germany, the UK and the USA. Currently, several thousand spaces are listed worldwide and the number is growing rapidly. Swiss landlords and property managers using the platform include well-known companies such as Migros, the Swiss Post, CBRE, Wincasa and SPG Intercity. Together with the cities of Zurich and St. Gallen and the Eastern Switzerland University of Applied Sciences, POP UP SHOPS is part of the Innosuisse-funded project “Pop-up City”. In 2019, the start-up was awarded as one of the most innovative Proptech companies of the year at the German Proptech Pitch event.