Dutch e-commerce tool ChannelEngine raises €5 million Series A

ChannelEngine, a Dutch marketplace integration platform for e-commerce, has raised €5 million to pursue ambitious plans for global expansion. The Series A round was led by INKEF Capital, with participation from existing investor Airbridge Equity Partners. Founded in 2015, the startup’s platform helps brands and retailers to manage and optimise their product listings and orders across online sales channels. As so many businesses are moving to and relying on e-commerce during the pandemic, the SaaS tool is coming in handy. ChannelEngine reports that revenue growth more than tripled in 2020. The funding will be used to continue the rollout in Europe and to start in a few other continents: APAC, Russia, the Middle East as well as both North and South America. This year the company plans to hire 70 new employees worldwide across various levels and roles.