Haz, a London-based startup offering an AI-based social commerce app that connects friends, has secured €1.2 million in a pre-seed funding led by Speedinvest with participation from the co-founder of Reface, Dima Shvets, and many others. The funding will be used for Haz’s expansion, EU-Startups reported.

About Haz

  • Launched in late March of 2024, Haz is available to download for free on iOS. Currently, the app has thousands of users, and the liquidity of supply on the app has increased by 1,163% in the last 3 months alone.
  • Haz provides users with a feed of their belongings that are automatically created and updated through the user integrating their email with the Haz app. Using it, a consumer can easily buy a new thing and then 10 minutes later check app to see it added to their feed, with a real time resale value attached to it.
Haz
Haz founders. Image credit: EU-Startups
Haz app. Image credit: EU-Startups
  • Haz is also able to pull any past purchases within a users’ inbox and enables friends to connect to get live notifications as and when friends buy or sell anything. Friends can then jump into the app to engage with any new purchases as well as comparing consumption habits with friends across leaderboards.

Investment details

  • The fresh pre-seed funding was led by the Austrian VC fund Speedinvest with participation from the scout programmes of A16Z: co-founder and ex-CEO at Reface, a Ukrainian startup that empowers people to express themselves in the digital world using AI/ML technologies, Dima Shvets, Sameer Singh from Atomico, Oliver Kicks Concept Ventures, and several individuals from Lapse, Lendable, Lottie & Ecoigo.

Haz presents a promising approach using proprietary AI to balance the world’s overproduction of apparel and electronics. Haz stands out for many reasons, most notably their progress in automating the process of turning unwanted belongings into money. I truly believe in their mission, technology, and approach,

Dima Shvets, co-founder of Reface and A16Z scout programme partner, commented.

The investment will be used to develop Haz’s proprietary AI technology and launch the platform in the UK before expanding across Europe.