Fast-growing eCommerce platform Moteefe raises again
Posted on September 4, 2020 by Jonathan Symcox
Merchandise eCommerce platform Moteefe has secured £8.3m funding.
The platform allows the creation of customised products such as T-shirts or engraved jewellery.
They can then be published to a white-labelled Moteefe store or their own platform and sold within minutes.
The London firm held a £3.9m Series A round earlier this year and has since grown 150 per cent.
New investor BGF led the new round with participation from existing investors Gresham House Ventures and Force Over Mass Capital.
“At a time when global retail has been suffering and supply chains have virtually ground to a halt, we have seen a doubling in users and strong customer demand for our retailers’ products,” said CEO Mathijs Eefting.
“This increased demand enabled us to grow our team and increase our production throughput, benefiting our entire network and creating high quality jobs internationally.
“We have moved beyond our original goal to help anyone set up a store and sell globally. We now are able to support innovative retailers of all sizes to respond to entirely new eCommerce demands and opportunities as customers continue to walk away from old fashioned brick and mortar sales store environments.”
Products sold on Moteefe have been shipped to 166 countries and the firm is now launching an enterprise solution allowing larger retailers to test new product styles, categories and geographies without tinkering with their supply chain.
It currently serves around 5,000 merchants with the help of 20 production and fulfilment partners across Europe, USA, Canada, Australia and Brazil.
“We were impressed with how Moteefe’s unique platform capabilities have allowed it to continue on its fast growth trajectory during the first part of 2020 despite the Covid 19 pandemic,” said Daina Spedding, investor for BGF.
“This performance has underlined the demand in the market for their technology as the global retail landscape undergoes a massive transformation.”