Moteefe, a UK platform that enables other ecommerce businesses to produce and sell customised items around the world, has secured another $11 million in funding. New investor BGF led the round with participation from existing investors Gresham House Ventures and Force Over Mass Capital.
To finance expansion to Australia and South America, the company raised a €5 million Series A this past February, and the expansion shows. According to company-disclosed stats about the first half of this year, the business has grown by 150 percent, and products sold on Moteefe have been shipped to 166 countries.
With the platform, merchants can sell branded and customisable items, and have them produced on demand with no upfront costs, infrastructure or inventory. It basically offers global fulfilment services around the world for even the tiniest of online shops.
Now the company is launching an enterprise solution. Larger retailers can use the platform to test new product styles, categories and geographies without tinkering with their supply chain.
Currently the London-based startup serves about 5,000 merchants with the help of 20 production and fulfilment partners across Europe, USA, Canada, Australia and Brazil.
Photo by Ossi Piispanen: Co-founders Mathijs Eefting, Lev Kundin and Olivier Stapylton-Smith