Berlin-based e-commerce data integration firm Productsup has closed a $20 million round. This now brings their total raise to $45 million and the new funding is expected to fuel further product development and international expansion, with a particular eye on North America.
The round was led by Nordwind Capital and venture debt provider Deutsche Handelsbank in combination with KfW. Additional individual investors include Moritz Zimmermann, co-founder of Hybris (acquired by SAP) and partner at 42Cap, and the co-founders of Contorion, Richard Schwenke and Tobias Tschötsch.
After a decade of operations, Productsup saw profitability in 2020 and continues to grow its revenue. The company currently counts an impressive client list including Farfetch, Hewlett-Packard, IKEA, and was recognised by Gartner in its June 2020 Cool Ventures in Digital Commerce report.
Productsup provides retailers with visibility of product data and make updates to product feeds in real-time. Clients do not need to rely on managed services to integrate product feeds or meet channel requirements, as these are leveraged through the platform’s self-service mechanism. Ultimately this means product data can be aggregated, optimised, and distributed across all relevant channels.
“We are pleased that we have been able to expand the business relationship with Productsup despite strong competition with other international venture debt providers,” said Peer Simon, Head of Growth Finance and Venture Debt, Deutsche Handelsbank. “Productsup is the perfect match to DHB´s strategy and sought after target group. This joint transaction with KfW is the proof for our lean and founder-friendly venture debt offer.“