Social e-commerce platform Flip has raised $60 million in a successful Series B funding round, bringing its valuation to $500 million. The round was led by WestCap, with participation from Mubadala Capital and Streamlined Ventures, and brings Flip’s total raised capital to $95 million.

With this new funding, Flip plans to expand its team, strengthen brand partnerships, and launch its own third-party social commerce marketplace in the summer. This marketplace will enable emerging brands to tap into Flip’s social community of shoppers and creators, as well as utilize various e-commerce tools.

According to Noor Agha, founder and CEO of Flip, the company believes that the future of commerce revolves around people. Flip’s patented technology connects digital content to physical products, creating a seamless discovery-to-purchase cycle. Users can shop instantly through content, share their own video reviews of products, and monetize their content over time. Agha believes this marks the beginning of the next era in e-commerce.

Flip differentiates itself by offering 60-second videos of user-generated content that are instantly shoppable, allowing shoppers to discover and learn about products in an innovative way. Users can also become creators themselves by sharing their own video reviews and earn money as other users engage with and shop through their content.

The platform has experienced significant growth, with its user base expanding by 500 percent since the beginning of 2022. Transactions on the platform have also increased by over 600 percent during the same period.

As part of the investment, Tina Yuan, vice president of investments at WestCap, will join Flip’s board of directors, and Brian Reinken, a partner at WestCap, will serve as a board observer.

Laurence Tosi, founder and managing partner at WestCap, believes that Flip’s social commerce model is redefining the way products are discovered and purchased online. He sees potential for other industries to follow suit after the beauty industry, which has been an early adopter.

For more information on Flip and its social e-commerce platform, visit their official website: https://www.flip.com.

To learn more about WestCap and its investment strategies, visit their official website: https://www.westcap.com.