eCommerce software platform Cloud Retail, formerly Jiffy, has secured £2.4m in seed funding to support its full-cycle operational retail management ecosystem.
The London-based firm transitioned from its last-mile ‘quick commerce’ origins in 2022, when it operated 21 London stores and delivered over 4,500 orders daily, to focus on developing eCommerce solutions.
Since then, it has developed a software stack to cater to a wider range of industries, including electronics, beauty, fashion, and pharmaceuticals.
Today, Cloud Retail is an all-in-one eCommerce platform and has developed a proprietary AI solution that helps individuals or teams launch a retail business from scratch, shortening the preparation time from five months to as little as one week.
“We love partnering with clients who need a full stack, easy-to-use, enterprise-grade solution across almost all industries,” said Marat Bolatov, CEO and co-founder of Cloud Retail.
“This financing will help further enhance the product and roll it out across even more segments and countries.”
Cloud Retail’s current client base extends across the UK, European Union, and the MENA Region.
The round was led by Somersault Ventures with participation from Pre-Seed to Succeed, backed by AltaIR Capital, Yellow Rocks, Smart Partnership Capital, and I2BF Venture Capital, as well as AddVenture and business angels.
Alexander Nevinskiy, partner at Somersault Ventures, added: “We are excited to back Cloud Retail again after navigating this transition together.
“The company’s operational roots and strong product culture combine for a unique offering that we believe is poised to fill multiple gaps in the market.”