Europe

Trustpilot raises €3.3m to scale up trust ratings for shopping

Next Story

Unthink’s “Anti-Facebook” Social Network Reaches 100,000 Users

Trustpilot, a site which rates the trustworthiness of shopping sites via a toolbar, has raised €3.3 million from two Nordic venture funds, SEED Capital and Northzone Ventures. The money will be used to scale internationally. Right now it’s available in 10 European countries but plans further rollouts.

Peter Holten Mühlmann, CEO at Trustpilot says they want to be the “most powerful global player in the market for online user reviews of online shopping.”

Quite a claim, and the problem of course is that there are already a number of reviews players, and not to mention the social reviews proliferating across the web over the last couple of years. Trustpilot also feels like a Minimum Viable PRoduct right now – although clearly, with over five million user ratings, it has traction.

There is also the question of whether a plugin company is the right way to go about it. Still, you don’t get €3.3 million for nothing.

SEED Capital is Denmark’s largest venture capital fund. Northzone is the largest Nordic venture capital investor, managing more than €500 million in six funds.