Tilt, a UK-based live-shopping startup founded by former Revolut employees, recently raised $18 million in a Series A funding round led by Balderton Capital. 

The investment comes as Tilt reports gaining over half a million users since its launch in early 2023.

Co-founders Neil Shah and Abhi Thanendran, who previously held key positions at fintech company Revolut, are leveraging their experience in growth hacking to expand Tilt’s presence in the UK live-shopping market. 

Tilt’s platform incorporates features such as live auctions, promotional “boosts,” and interactive events to enhance user engagement. The app currently ranks in the top 10 UK Shopping app charts, surpassing established players like Depop and eBay.

“Our approach has been to target Gen Z,” Thanendran told TechCrunch. “They’re used to these unique apps and experiences from online gaming and watching Twitch streams. We’ve chosen to go with fashion, and I think we’ve cracked the code here.”

Tilt’s success comes amid broader challenges in adapting live-shopping models from Asian markets to Western audiences.

“We focus on the real-time aspect,” Shah said for TechCrunch. “Sellers can host live giveaways during the stream. This will keep you on the stream as a user because you want to see whether you will win the giveaway. And we have auctions. People are excited to see where an item ends up.”

Limited Adoption of Live-Shopping Trend in the West

The Tilt app focuses on real-time sales of fashion items, aiming to replicate the success of live e-commerce in Asian markets.

According to McKinsey, live-streamed e-commerce is projected to account for 10% to 20% of all e-commerce by 2026. 

In China, the sector is expected to grow 25% to $703.27 billion this year. The Beijing authorities recently tightened regulations of AI-generated content on live-streaming e-commerce platforms.

However, Western markets lag, with only 35% of U.S. survey respondents and 25% of UK respondents reporting purchases from live-streamed events. Bizrate Insights research shows that 57% of U.S. adults report disinterest in or unawareness of live shopping.

Tilt aims to overcome these challenges and burst onto the scene.

“Tilt has cracked live shopping in the UK: Adding over half a million users within their first year of launch – something which many big players have failed at despite successes in Asia,” Daniel Waterhouse, general partner at Balderton Capital, said in a news release.

“With Neil and Abhi’s relentless focus on innovative features and community engagement to deliver the best experiences for buyers and sellers alike, we’re excited to work with the team to take Tilt to the next level,” Waterhouse added.