An eCommerce software company has ‘exited stealth mode’ with £54 million of funding.
London-based Shop Circle was co-founded last year by Luca Cartechini and Gian Maria Gramondi to provide eCommerce tools to fledgling entrepreneurs.
These can either sell their eCommerce apps directly to the company or join the Shop Circle team and scale their product with the company’s dedicated marketing, branding, partnership, product, content and tech teams.
The company plans to create an application ecosystem akin to Microsoft’s productivity solutions. It currently oversees seven tools with more than 50,000 total customers.
The financing was led by NFX and QED Investors, with participation from 645 Ventures, FirstMinute Capital and Triple Point Capital. It will be used to grow its portfolio of eCommerce apps and more than double its headcount.
“Shop Circle was founded with the goal of providing entrepreneurs the most cutting-edge tools in the industry, and in turn empowering them to build the future of eCommerce,” said CEO Cartechini.
“With the funding, we are able to rapidly expand our portfolio offering and provide more than 50,000 direct-to-consumer brands with all of the tools needed to grow their stores and build experiences their customers will love.”
COO Gramondi added: “In addition to helping scale the company, we also plan to use the funds to bolster our already talented team of employees.
“We plan to more than double our employee count by the end of year, bringing in new entrepreneurs, developers and more who share our mission of building the future of eCommerce.”