Nifti, a US-based shopping service startup which helps consumers track discounts and chart product price changes, has raised $800,000 in seed funding from a group of investors led by Google Ventures and venture capital and private equity firm Otto Capital.
Rich Miner, general partner at Google Ventures, said: “As consumers gain new insights into product pricing, we see a strong positive shift in the dynamic between shoppers and merchants. The team at Nifti has created a platform to bring consumers and merchants together in a way that makes the most of this increase in pricing awareness. It’s a clever take on the affiliate model because it benefits both shoppers and sellers.”
Nathan Sharp, Nifti co-founder, said: “Patience pays in online shopping, but only if you’re willing to spend a ton of time checking back and forth on the things you want. Online prices change so much more often than we first realized. We built Nifti so that it’s as easy for shoppers to know when prices change as it is for merchants to change prices.”
Nifti, based in Boston, USA, has been founded by Nathan Sharp, Greg Kimball and Abe Gurjal.