German Crowdfox GmbH, an online shopping marketplace, has raised €4.7 million in a Series A financing round, which includes a €2 million convertible bond secured in April of this year. The investment was led by TAKKT Beteiligungsgesellschaft.
The Crowdfox platform connects buyers and sellers, allowing them to trade all kinds of products from electronics to kitchen appliances and baby products. The company's B2B platform also hosts a range of business products including office equipment and supplies, vehicle parts, and construction materials.
The company plans to accelerate its growth with the fresh capital. The Crowdfox Business B2B platform already has over 6.5 million products listed, and has doubled its sales in the last quarter.
"Our B2B platform is growing rapidly. By the end of the year, approximately 20 million products will be available on Crowdfox Business," said Wolfgang Lang, founder and CEO, as reported by Onlinehandler News.
Read more: Onlinehandler News (German)