NearSt clinches £2m in new funding from investors

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Retail tech start-up NearSt has raised £2m in seed funding from a number of investors, as the Google-backed business looks to drive more footfall to bricks-and-mortar stores.

The retail technology start-up has secured the funding from a number of notable investors, including YYX Capital, which brings the total raised by NearSt to more than £3.2m.

NearSt, which partnered with Google in November 2018, said it would use the latest cash injection to “accelerate uptake by retailers in the UK with a wave of new hires”, as well as launch its offering in the US.

The business, founded in 2015, takes data from retailers’ point-of-sale systems to give customers up-to-date information on shops near them that have what they would like to buy, rather than having to buy online.

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