Trustpilot, a rating service for online shopping, announced it has received €3.3 million in funding from two Nordic venture funds – SEED Capital and Northzone. The company allows a user to look at a single metric to see if they will probably have a pleasurable shopping experience. Aside from the value it provides between customers, the service is also helpful for online businesses to communicate their strong customer service by adding independent reviews to their site.
TrustPilot, a Danish company review site, has closed 5.5 million Danish Kronor (almost 740 000 euros) in funding from SEED Capital. TrustPilot enables consumers to review and rate companies based on their experience and service they received. The site has half a million users on a monthly basis and the user base is constantly becoming more international. The business model is simple and almost obligatory for companies. With a monthly subscription, companies can engage in the reviews and comment back regarding individual reviews. The service has signed up more than a 1000 companies to date.