Amsterdam-based Convious, an e-commerce platform for the leisure industry, announced on Friday that it has secured an additional $9M (approximately €8.5M) in a Series A extension funding round from Wille Finance with participation from Orbit Capital and existing investors.

The announcement comes over a year after raising $12M (approximately €10.6M) in a Series A round of funding led by Begin Capital.

The extension round brings the total value of Series A to $20M (approximately €19M) in a combination of equity and debt. 

Convious says it will use the funds to support its next development phase. 

Convious: Helping leisure industry with core operations

Founded by Camiel Kraan, Convious provides a one-stop cloud platform for all core operations of leisure operators.

The platform enables leisure operators to connect with their visitors, enhance their experience, increase conversions, and manage all internal operations from a single place. 

Convious processes all sales transactions, including tickets, food, and hotel accommodations. 

Its AI-based platform helps convert visitors with personalized offers, sells tickets at dynamic real-time prices, and provides buying experience and analytics on the guests’ experience. 

The platform also provides data on the guest experience, which the leisure provider can use to improve services.

Camiel Kraan, Founder and CEO of Convious, says, “Experience economy businesses have been through a tremendous amount of change and continue to transition, with emerging technologies and platforms bringing opportunities to reach new audiences and markets. This funding extension will allow us to continue to innovate at the rapid pace that we have become renowned for.”

“We represent a selection of the biggest names across the theme park, museum, zoo, and aquarium sectors and will continue to evolve our platform based on the market’s needs for all venue types, sizes, and global locations,” Kraan says.  

The Investors

Wille Finance invests in growth companies leading the way with software and life science innovations. The firm acts as a long-term investor and reliable partner for entrepreneurs. 

Cyril Petit, Tech Investor VC Investor at Wille Finance, says, “We are happy to join Convious as a new investor and to support the company throughout its next development phase. We are joining an innovative and passionate team that strives to transform the offline entertainment industry through technology. “

“We are convinced of the company’s capacity to develop state-of-the-art solutions allowing businesses in the leisure and entertainment sector to optimise operations and revenue, thereby making Convious’s offering particularly well-suited to tackle today’s challenges,” continues Petit. 

“We believe in the company’s vision and are looking forward to seeing how Convious will continue to contribute to the industry’s future,” adds Petit. 

Orbit Capital is a growth-stage investor that supports European tech & tech-enabled businesses at the scale-up stage. So far, the company has invested 15 companies in their expansion with debt and equity investments.

Lukas Macko, Principal at Orbit Capital, says, “Convious is on track to become the leading Attraction Management System for large and mid-market experience economy operators. The company has shown remarkable growth and progress in recent years. It offers a comprehensive suite of modules, ranging from bookings and sales management to operations planning, and has a proven ability to devise innovative solutions. These capabilities uniquely equip Convious to address the evolving challenges of the leisure and entertainment sectors, boosting their operations and revenue.”

London-based e-commerce software provider Shop Circle announced that it has raised $120M (~ €‎111.6M) in a Series A round of funding.

The round was led by 645 Ventures and 3VC, and joined by previous investors QED Investors and NfX. The i80 Group provided a credit facility for the funding, which was secured through a strategic blend of equity and debt.

Luca Cartechini, CEO and co-founder of Shop Circle says, “We’re thrilled to announce the successful close of our Series A funding round, which will enable us to continue building and expanding our suite of e-commerce tools.”

“Our vision has always been to create a comprehensive operating system for e-commerce brands, providing them with the necessary technology to excel in today’s competitive market,” he adds.

Shop Circle says it has witnessed a  360 per cent year-over-year growth trajectory. The company attributes this growth to its continued efforts to enhance its backend and customer-facing solutions suite.

Advancing e-commerce efficiency with AI

Shop Circle has been working on developing AI-driven tools and processes to make its core operations in e-commerce even more scalable.

“Since our inception, we have embraced the AI revolution and promptly built several applications to support and automate the majority of our processes, offering a distinct advantage in operating and growing our suite of software,” says Gian Maria Gramondi, co-founder and COO of Shop Circle.

“Our goal is to equip e-commerce entrepreneurs with the high-performance tools and expertise they need to scale business effortlessly,” adds Gramondi.

In addition to its primary platform, Shop Circle has introduced a programme for tech stack consultations driven by data and AI. The goal here is to optimise brands’ tech setups, reduce costs and increase conversions for better customer experiences.

“With our tech stack review programme, we are able to help e-commerce companies unlock their true potential by shedding unneeded tech and costs, enabling long-term success and growth,” mentions Gramondi.

Shop Circle’s leadership team includes professionals with extensive experience in companies like Amazon, Shopify, Uber and other top e-commerce brands. The company serves over 100,000 e-commerce brands globally and is committed to empowering merchants with cutting-edge technologies and insights for growth.

What the investors say

Nnamdi Okike, co-founder and managing partner at 645 Ventures, says, “Shop Circle’s vision to build a leading SaaS platform for the second wave of commerce brands aligns perfectly with our investment strategy, which is to back exceptional founders building differentiated businesses in large markets.” 

“We believe that Shop Circle will be a driving force in shaping the future of e-commerce, and we are proud to support Luca, Gian Maria, and the team in their growth journey,” adds Okike.

Peter Lasinger, partner and founder of 3VC, expresses his confidence in the Shop Circle team.

“We have great trust in Luca, Gian Maria, and the whole Shop Circle team, as their dedication to creating an exceptional merchant’s experience matches what we look for in entrepreneurs at 3VC. We’re excited to join them on their journey, expecting remarkable success in their future,” Lasinger says.

Peter Frank, managing director at i80 Group, says, “We’re thrilled to announce our partnership with Shop Circle, the software suite for e-commerce brands.”

“At i80 Group, we’re captivated by the strong growth potential and execution capabilities of the Shop Circle team in the e-commerce enablement space, which Shop Circle is playing a leading role in shaping. We look forward to supporting Shop Circle in their next phase of growth,” he adds.

Finnish e-commerce startup Starcart announced it has raised €3.5M in a seed round of funding led by Nordic early-stage investor Inventure. 

The round also saw participation from Business Finland, who provided a €400K R&D loan, and other Finnish angel investors.

With the funding, Starcart says it will scale its AI-powered shopping platform and expand into new markets across Europe in 2024. The company plans to add hundreds of new stores to the platform.

A unique shopping platform

Starcart says it has seen explosive growth since its launch in Finland in 2022. The company’s sales volume has increased by more than tenfold in the past six months and is currently experiencing double-digit monthly growth.

According to Pasi Ilola, founder and CEO of Starcart, online shopping has become increasingly popular over the past two decades. However, it has also become more time-consuming for consumers due to the sheer number of products and stores available online, as consumers must sift through many options before purchasing.

“Starcart was created to solve this problem, and to make online shopping easy and enjoyable,” said Ilola.

Starcart says it is the only end-to-end shopping platform that allows consumers to buy items from multiple stores with just one click. The platform uses AI technology to find the best prices, availability, and shipping times for over 15 million products from over 130 stores. Then, it automatically makes the purchases for the consumer.

The company completely removes the workload of comparing prices, finding availability, and completing checkouts. Consumers can select the products they wish to purchase, and Starcart will do the rest. This platform’s model is similar to travel aggregators that allow consumers to find the best flight or hotel deals within one platform.

As a result, the reception for Starcart has been “overwhelmingly positive,” with 4.5 out of 5 stars of customer satisfaction rate.

“The feedback from merchants has also been very positive, with the low barrier of entry into the platform especially appreciated,” adds Ilola.

Future potential

Statista projected that the global e-commerce market will grow from $3.6T (€3.33T) in 2023 to $5.6T (€5.18T) by 2027. Based on eMarketer’s data, the sector’s share of retail sales is also expected to grow from around 20 per cent in 2023 to nearly one-fourth of all retail sales by 2026. 

Starcart’s unique AI-powered technology makes it well-positioned to capture a significant share of this market potential.

“Starcart’s insane metrics speak for themselves. The potential here is absolutely enormous, and the Starcart team is well on their way to rebuild and redefine the online shopping experience in Europe,” says Lauri Kokkila, Partner at Inventure and an early investor in the company.

“In the near future, we’re planning to also make it easy for consumers to shop sustainably by introducing second-hand stores and recommending sustainable products and shipping method options for our customers,” adds Ilola.

Ilola further says that the company is rapidly moving towards its ultimate vision of making Starcart the only shopping tool people need, especially with the recent funding. The company believes this is something that people actually want, as it makes their everyday lives easier.

London-based Foresight Group, a private equity and infrastructure investment manager,  announced that it has invested £700K (~ €814K) in UK-based We Are Fulfilment through the Midlands Engine Investment Fund.

We Are Fulfilment (WAF) says it will now have the opportunity to establish an additional fulfilment facility, upgrade automation capabilities, streamline supply chain operations and generate employment opportunities within the community.

WAF also seeks to enhance its services and meet the growing demand for reliable e-commerce fulfilment in the UK.

New leadership appointments to drive growth

WAF also appointed Jamie Clark, an expert in supply chain management, as its chief operations officer. Sarah Gilling, formerly the managing director of Ocean Saver and an existing partner of WAF, has assumed the role of chief finance officer.

WAF co-founder Trent Peek says, “We’ve experienced meteoric growth in the last year. As the e-commerce markets continue to show double-digit growth in the UK, the need for reliable, transparent fulfilment is enormous.” 

“With this support from Foresight, we’ll strengthen our offering to existing clients and we’re poised to deliver even better customer satisfaction for our growing number of partners,” he adds. 

Founded in 2022 by Peek and Richard Ardis, WAF quickly gained momentum by partnering with over 60 e-commerce businesses. WAF serves as a crucial link, connecting the sales channels of e-commerce businesses (such as Shopify, Amazon and eBay) with its warehouse management system.

“We are delighted to support Trent and Richard and the rest of the team at WAF to enable them to achieve their business ambitions,” says foresight investment manager Line Kristine Gauteplass. 

She praises WAF’s substantial growth, expanding customer base and strong standing in the fulfilment and e-commerce sectors. “With our investment and support, WAF is well placed for its next stage of growth, and we look forward to being part of its growth journey,” she says. 

About Foresight Group

Foresight Group, established in 1984, specialises in sustainable and ESG-focused strategies. It aspires to generate attractive returns for institutional and private investors in challenging private markets. 

With a diverse portfolio of over 400 infrastructure assets, the company specialises in multiple sectors, such as solar and onshore wind projects, bioenergy and waste initiatives.

Foresight Group also is involved in renewable energy-enabling projects, energy efficiency solutions, social and core infrastructure projects and sustainable forestry assets. The company’s private equity team manages eleven investment funds targeting specific regions within the UK and an SME impact fund supporting Irish SMEs. 

With a presence in eight countries across Europe, Australia, and the United States, Foresight Group currently has over £12B in assets under management (AUM).

Rotterdam-based Spotler Group, a leading European marketing technology company, announced on Tuesday, August 1, that it has acquired Dutch-based Shopping Minds B.V., a cloud customer data platform that specialises in personalised e-commerce experiences.

The financial terms of the deal have not been disclosed.

Spotler Group says the strategic move showcases its commitment to investing in the Commerce Experience Platform (CXP) category, enhancing its existing capabilities in website personalisation, product recommendations, merchandising, and customer insights.

Spotler Group’s CEO, Lee Chadwick, highlighted the strategic acquisitions’ value in managing first-party data and offering retailers engaging online retail experiences.

“I’m excited by this modular product offering we are building with these strategic acquisitions,” Chadwick says.

“This technology, combined with the talent of the Shopping Minds team, will bring to both our existing customers and the new brands that are approaching us to deliver these solutions today,” he adds. 

Founded in 2015, Shopping Minds B.V. has successfully served clients like Etrias Group, SNP Natuurreizen, and Bax Music, offering them practical and privacy-conscious ways to deliver personalised commerce experiences. The company addresses the market gap by providing a practical cloud solution to help its clients to gain insights and deliver personalised experiences while prioritising customer privacy. 

This latest technology acquisition complements the Spotler Group’s existing portfolio of digital marketing and communications technologies, which includes Spotler, Tripolis, Squeezely, Pure360, Flowmailer, Sooqr, and OBI4wan. 

Christian Vriens, Manager of Product Development at Shopping Minds, expressed excitement about joining the Spotler Group. 

“It’s a great step for our team to become part of the Spotler Group,” Vriens says.

“We have a complementary vision for the future shopping experience, we already have existing integrations, and we are looking forward to working together and delighting our customers,” he adds.

Complementing visions

With the acquisition of Shopping Minds, the Spotler Group strengthens its position in the personalised e-commerce market by integrating a powerful cloud solution that empowers marketers to gain valuable insights and create targeted omnichannel shopping experiences. 

Together, these brands serve over 4000 customers across 15 countries, delivering more than 18 billion messages annually. With its focus on simplifying the complexity of multi-channel marketing, sales, and customer service, the Spotler Group stands as a European leader in the rapidly expanding marketing technology sector.

This expansion comes on top of their previous acquisitions of Squeezely and Sooqr, further strengthening their expertise.

“Squeezely set out to improve personalised experiences in e-commerce,” says Tim Hoefnagel, Managing Director of Squeezely.

“Joining forces with our new colleagues at Shopping Minds accelerates our mission as our teams will put their minds together and pull from our wealth of experience in the personalisation space to keep building on our world-class solutions for e-commerce companies,” Hoefnagel adds.

Amsterdam-based Otrium, a fashion e-commerce platform, announced on Thursday that it has appointed Zuhairah Washington as its new global CEO. 

Co-founder Max Klijnstra will serve as Chief Sustainability & Growth Officer, aligning business growth with the outlet’s mission to connect its millions of customers with the world’s leading premium brands to ensure that all clothing that is produced is worn. 

Zuhairah Washington – New global CEO

Washington joined the company as President and Chief Operating Officer in 2021, and will drive international growth and oversee all aspects of Otrium’s global operations – product, engineering, sales, marketing, logistics, expansion, legal, finance, and people functions. 

Under her leadership, Otrium will focus on charting a path to profitability in Europe and further scaling growth in the US. In 2022, Otrium’s US members grew at a speed of 500 per cent.

Washington says, “I feel extremely fortunate to lead a company that provides consumers of all socioeconomic backgrounds with access to the world’s top premium fashion brands at affordable price points in pursuit of a larger mission – ensuring that all clothing that is produced is worn. As one of the few African-American female CEOs in tech leading a global fashion marketplace, I’m especially proud that we are building the next phase of Otrium with an executive leadership team that is 40% women, of which 100% are women of colour.”

Otrium: Digital fashion outlet

Founded by Max Klijnstra and Milan Daniels in 2015, Otrium is a technology platform via which fashion brands can sell their leftover stocks at a discount. 

The Dutch company’s full-service marketplace allows fashion brands to open an online outlet with minimal effort and all the advantages. Through their platform, fashion houses can sell both outlet collections and previous collections while retaining full control over pricing, merchandising, and visibility of their excess inventory.

The company uses machine learning and proprietary technology to determine merchandising and surface product discovery. The fashion e-commerce firm currently offers over 300 fashion brands on its platform. 

Klijnstra will drive Otrium’s marketing strategy and sustainability goals, further embedding its mission across the business. 

“Globally, an estimated 92M tonnes of textile waste is created each year and ends up in landfills. Otrium was founded to help reverse this trend. We envision a future where every piece of clothing produced is worn. As Otrium’s business grows, we will continue to help decrease the number of garments ending up in landfills. I want to keep personally driving this type of change forward for Otrium and for the industry,” adds Klijnstra. 

Daniels will continue to scale and foster the platform’s global brand partnerships, including Tommy Hilfger, Donna Karan New York, Filippa K, Scotch & Soda. 

Daniels says, “Max taking on the role of Chief Sustainability & Growth Officer will enable us to bring these topics more into focus across the entire business. Combined with Zuhairah – who is an exceptional leader, one that shares mine and Max’s ambitions for Otrium – taking the role of CEO, and each of us assuming our dedicated roles, the executive team has never been better placed to make Otrium one of the world’s leading end-to-end outlet fashion platforms.”

The Dutch firm serves over 20 markets across Europe and the US from three logistics hubs in the Netherlands, United Kingdom, and the United States. At the heart of the company’s success is a diverse and global team, representing over 30 nationalities. 

In the dynamic world of e-commerce, businesses need to maintain a competitive edge through technological advancements. 

The traditional approach to developing complex software for online stores has proven to be arduous, time-intensive, and financially burdensome. Moreover, such software’s continuous upkeep and management often pose significant challenges.

Turkish startup Rierino wants to bring about a revolutionary change in e-commerce.

With the hurdles in e-commerce clear, the founders of Rierino set out to create a platform that would make customisations and advanced development more accessible to medium-to-large enterprises.

Doing so has not only opened new avenues for businesses to thrive in the digital market but plays a pivotal role in transforming the e-commerce landscape. 

The Inception of Rierino

Rierino was born out of a deep understanding of the challenges faced by fast-paced e-commerce organisations. 

“We saw that continuous change was difficult and slow even with modern tech stacks due to increased complexity and capacity constraints. Most of the time, access to intelligence was also limited because of siloed data platforms and fragmented third-party add-ons,” says Mine Ozmen, Co-founder of Rierino. 

Based out of Istanbul, Rierino was created as a technology platform that easily shapeshifts to anticipate and adapt to changing business needs.  

The name Rierino (pronounced rye-ree-noe) is an acronym derived from the phrase “right here right now,” which, the founders believe, captures the essence of digital enterprises. 

“It is also inspired by the power, resilience, and speed of rhinos and their fearless ability in establishing new territories and facing competition head-on,” shares Ozmen. 

The founders and their expertise

The core team at Rierino consists of Utku Sarioz as the CEO (Sales & Strategy), Berkin Ozmen as the CTO, and Mine Ozmen as the CMO (Marketing & Product Design). 

Each founder brings a wealth of experience and expertise to the table. 

Sarioz is a seasoned entrepreneur and strategic advisor with a track record of leading digital transformation engagements across multiple countries. 

A technology thinker and practitioner, Berkin Ozmen has built solutions for numerous high-tech clients. 

Mine Ozmen is a data-driven marketing strategist with a strong UI/UX design, product and content management background.

The founding team of Rierino has a history of working together for almost 20 years in various entrepreneurial and managerial settings. 

Their previous consulting venture grew to include three offices across 13 countries before being acquired by a Big Four company. 

This long-standing collaboration has enabled them to develop a deep understanding of each other’s strengths and overcome challenges together, ultimately leading to the creation of Rierino.

What does Rierino solve?

One of the critical challenges medium-to-large enterprises face is the limitations of standard packaged solutions. 

While these solutions are easy to set up and use, they provide limited control over core technology, making customisation for unique business models or features difficult. 

Rierino addresses these challenges by offering rapid customisation capabilities. 

The smart low-code microservice development platform from Rierino allows businesses to have total control and customisation over their technology stack, enabling them to fit the platform capabilities into their business models instead of the other way around. 

What makes Rierino stand out?

Rierino stands apart from its competitors for its optimal combination of adaptive technologies – composable commerce, embedded intelligence, and low-code/no-code (LCNC) capabilities.

The composable structure of the platform turns it into a plug-and-play suite, allowing for easy integration and customisation. 

The embedded intelligence provides smart automation for all business flows, streamlining operations and improving efficiency. 

The low-code/no-code (LCNC) interface makes the platform more accessible to non-technical users, empowering marketers, category managers, and data scientists to leverage the platform’s capabilities. 

By offering highly adaptive and easily accessible technologies, Rierino enables businesses to anticipate and adapt to changing market needs effectively. 

Accelerating disruption with funding

Rierino recently raised $1.25M (approximately €1.1M) in seed funding from the Future Impact Fund, which brings together Tacirler Portfoy and Vestel Ventures. 

On this partnership, Utku Sarioz reveals, “In addition to the founding team’s experience, our investors view Rierino’s technology as unique, intuitive, and efficient with a strong potential in the fast-growing low-code/no-code space.”

The new funding will help Rierino accelerate product innovation (such as self-designing UIs with generative AI), grow the team (set up our European offices), expand partnerships (sales & implementation) and integrations (a larger pre-built connector library to prioritised ERP, payment, and communication solutions).

The company also plans to raise additional funds in 18-24 months. 

“Depending on our momentum and market reach, this will be in the form of a bridge fund or Series A as equity capital from a global VC/CVC. We’ve already had early discussions with a few prominent VCs that expressed interest in our future rounds,” adds Utku Sarioz. 

European expansion with a focus on Benelux

With its seed funding, Rierino is setting its focus on expansion and its first target market is Europe. In Europe, the Turkish startup is focusing primarily on the Benelux region. 

“This decision is influenced by the region’s stable economy, strong focus on e-commerce and digital innovation, and steady growth potential,” adds Utku Sarioz. 

The Benelux region also presents complex e-commerce operations across multiple countries, requiring flexibility regarding country-based rules, languages, and currencies. 

Rierino’s platform is well-suited to address these challenges and provide tailored solutions to businesses in the region, says Utku Sarioz. 

Alongside expansion, the startup also plans to double its current team of around ten people by the end of this year.

“In Europe, our hiring focus will be on the sales team members, primarily in the Benelux market where we are considering opening an office,” says Utku Sarioz.

Building for medium and large-sized enterprises

To establish a strong presence in the European market, Rierino has implemented several key strategies, including building channel partnerships.

“We are in talks with several system integrators and implementation agencies that have a similar vision and will be able to effectively take our solution to the market,” says Berkin Ozmen. 

“We will also expand our core “SWAT” team with key local resources from Europe to support our growing client and partner base. We will participate in leading industry events and tradeshows and host our own for a more personal engagement with key decision-makers,” he adds.

According to Berkin Ozmen, Rierino’s target audience within the European market, particularly in the Benelux region, consists of medium to large-sized enterprises with a strong vision for 

differentiation through technology and customer experience. 

He says there are three main groups they typically see in this audience, which also apply to the region: 

• Top-tier e-commerce companies with unique challenges 
• Brand retailers and e-commerce companies looking to re-platform 
• Ambitious e-commerce startups.

Compliance and Data Privacy

Rierino recognises the importance of compliance with relevant regulations and data privacy laws in Europe. The platform’s limitless flexibility enables businesses to adapt and comply with country and company-specific rules. 

“For example, it is possible to ensure that personal data never leaves the EU (or even the company’s own data centres) thanks to our cloud-agnostic solution deployment capabilities,” explains Berkin Ozmen.

He adds, “We give our clients 100 per cent ownership of their customer data; they can decide where and how that data is stored, with 100 per cent traceability of when and by whom that data is accessed.”

As it expands into Europe and prepares a new chapter, Rierino is making sure that data compliance and privacy is not an afterthought. It has built its system with nativity to rules and regulations every step of the way.

“Our platform also facilitates setting up business rules and flows in line with country regulations and company rules, such as setting-up customer notifications to ensure that the right contractual information is communicated within the timelines or configuring delivery and VAT fees as required,” adds Berkin Ozmen.

Revenue and future growth

Rierino primarily generates revenue through enterprise software licensing. 

“We have a fixed annual licence fee, which is independent of the number of users or volume of transactions happening through our platform – giving our clients better predictability and ease of mind that our fees will not skyrocket when they scale their operations,”  Mine Ozmen tells Silicon Canals. 

Notably, the licence fee is determined based on the type and number of modules deployed with the platform.  

Additionally, Rierino offers an end-to-end PaaS model for select clients, further expanding its monetisation strategy.

After Europe, Rierino aims to expand its LCNC technology stack to the UK, the US, and even Asia.

For Rierino, the goal is simple. It envisions itself as a global digital transformation platform, expanding geographically, broadening its business model, and venturing beyond e-commerce and it has all the ingredients in place to succeed.

Leiden-based ChannelEngine, a global marketplace and e-commerce management platform, announced on Thursday, June 22, that it has acquired homegrown competitor Vendiro. 

Based out of Leiden, Vendiro provides online sellers access to more than 70 different European marketplaces. It also provides seller tools that help automate and grow sales. 

The platform helps online sellers achieve better sales and healthier margins with advanced algorithms, seller tools, and tailored personal advice. 

Vendiro has a strong presence on the Dutch and European markets, serving customers such as Dorel, Blokker, Bax Shop, Keter, and EXIT Toys.

Twan Rutten, CEO of Vendiro, says, “We’re very excited about the many new possibilities this acquisition will create – for our staff, our capabilities, and, ultimately, our customers. Our customers are important to us, so we’re happy to continue delivering great service as we always have, but with new opportunities for growing online sales and margins for our customers.”

The acquisition

The acquisition of Vendiro and its team will help ChannelEngine further enhance its expertise and e-commerce know-how to better serve customers. 

Technological innovations from both companies (such as advanced algorithms and smart pricing engines) will be enhanced by analysing and combining their unique strengths, says the company. 

Vendiro customers will have greater access to more markets, significantly enhancing their growth opportunities. 

ChannelEngine: E-commerce and marketplace platform

Founded by Jorrit Steinz, ChannelEngine is an e-commerce and marketplace management platform that gives brands, retailers, and distributors the advanced technical capabilities they need to overcome the complex challenge of e-commerce management. 

The ChannelEngine platform sells 11 million different products on more than 700 different online sales channels and marketplaces. 

Based out of Leiden, the Netherlands, the company has a global marketplace and partner network. It has offices in Munich, Dubai, Singapore, Melbourne, Toronto, Dublin, and New York.

Jorrit Steinz, CEO and Founder of ChannelEngine, says, “This acquisition benefits customers from both companies: by joining forces, we can truly offer the best of both worlds. Vendiro is a great company and a strong team with considerable expertise in e-commerce, so we’re excited about how this will translate to future innovations and even more value to our customers.”

Paris-based DJUST, a B2B e-commerce SaaS platform, announced on Monday, June 12, that it has raised €12M in a Series A funding round led by New Enterprise Associates, Inc. (NEA), with additional participation from Elaia Partners.

With the latest capital injection, DJUST says it plans to expand into markets across Europe, the UK, and the US. It will also invest more aggressively in developing solutions for its core product. 

“The B2B eCommerce journey has been upended over the past decade. Behaviours and expectations on both the buyer and seller end have significantly changed the way B2B companies need to acquire, convert, retain, and expand customers. Yet many B2B companies are left to deal with these shifts on their own, supported only by outdated solutions that don’t fit their current needs,” says Arnaud Rihiant, Founder and CEO, DJUST. 

“We want to free all businesses of the hassle of building, launching, and running B2B commerce. That will happen when companies stop making small adjustments to outdated systems and instead embrace an integrated, modular and powerful platform. In turn, that future-proofs new growth opportunities and excellent customer service,” says Rihiant. 

DJUST: Helping buyers & sellers have frictionless experiences

Arnaud Rihiant, alongside co-founders Alexis Delplanque (Co-founder and Head of Sales) and Eric Gaudin (Co-founder and Head of Technology), launched DJUST with €4M in seed funding from European investor Elaia in 2020.

The platform enables leading Distributors, Retailers, and Manufacturers to eliminate system silos, digitise manual processes, and uncover new growth opportunities. 

The platform supports all B2B scenarios such as online catalogues, B2B eCommerce, eProcurement, and Marketplace connectors.

The company offers powerful customisation on the front end, with drag-and-drop functionalities and data syncing of old and new channels, enabling shifts and adaptations for new markets and buyers.

Backed by a network of partners, DJUST offers a human-sized company with more than 40 digital B2B commerce experts across Europe. 

Over the past year, DJUST has doubled its headcount from 20 to 40+ employees. It has also more than doubled its annual recurring revenue through more than 15 new deals across Europe. 

The investor

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors, and geographies. 

The VC invests in technology and healthcare companies at all stages of a company’s lifecycle, from seed through IPO. 

“DJUST’s simple yet powerful technology is an ideal match for today’s B2B businesses. This is whether they’re building their own eCommerce platform, working with suppliers, simplifying their procurement processes, or increasing the effectiveness of their sales operation,” said Philip Chopin, Managing Director, NEA UK. 

“The company’s rapid growth and ability to quickly demonstrate value for customers across different industries like retail, construction, fashion, and pharmaceuticals give us confidence that they can scale sustainably over the long term,” says Chopin.

Rotterdam-based Spotler Group, a company that offers marketers tools to engage with their audience and grow their business, announced on Thursday, March 9, that it has acquired Utrecht-based Sooqr, a one-stop e-commerce conversion optimisation suite.

Founded in 2015, Sooqr offers a Search-as-a-Service solution to online businesses worldwide. The company says its tools can dramatically increase on-site conversion rate and order value regardless of the e-commerce marketing approach.

The platform also offers personalised on-site search, product recommendations and smart, optimised merchandising in the Netherlands.

Currently, Sooqr has 1100+ customers worldwide, including Drogist.nl, HSN, Intersport Twinsport, and has established itself as the leading platform for e-commerce conversion optimisation in the Netherlands.

Aim of the acquisition

With this acquisition, Sooqr will enhance the personalised e-commerce capabilities of Squeezely, which the Spotler Group acquired in 2021.

Tim Hoefnagel, co-founder and MD of Squeezely, says, “This is a significant moment for our clients and our team. Incorporating the Sooqr technology and expertise considerably accelerates our development toward our vision for personalised commerce.”

Spotler Group aims to develop an evolving, all-encompassing Customer Data Experience Platform (CDXP) by combining the powers of Sooqr and Squeezely.

The Dutch company says this will help retailers personalise the entire browsing experience and boost customer engagement, conversion rates, and income by taking advantage of insights into consumer behaviour, tastes, and purchasing habits.

Albert Mombarg, CEO of Sooqr, says, “We are excited to join the Spotler Group and for the opportunities, it will offer our customers in terms of product investment, access to a suite of complementary technologies and expertise across the group.”

Spotler Group claims to have shown a dedication to e-commerce over the past two years by making strategic investments to assist online merchants with order abandonment, website personalisation, statistics, individualised experiences, and reward programmes.

And now, they believe that the acquisition of the Sooqr technology will complete the picture.

Lee Chadwick, CEO of The Spotler Group, says, “The acquisition of Sooqr expands our capabilities to include search, analytics, and merchandising. Enabling us to offer a modular solution that fits the need for our e-commerce clients to offer engaging consumer experiences.”

About Spotler Group

Founded in 2016, Spotler Group has invested in creating and expanding a portfolio of digital marketing and communications technologies that make the complicated world of multi-channel marketing, sales, and customer support easier to understand.

Brands under Spotler Group umbrella include Spotler, Tripolis, Squeezely, Pure360, Flowmailer and OBI4wan.

Together, they provide services to more than 4000 clients in 15 countries, and send more than 18 billion communications annually, making the Spotler Group a leader in Europe in the developing field of marketing technology.