Building a more connected European industrial wholesale market by linking European industrial buyers to European manufacturers, Finnish startup Droppe has raised €2.2 million seed funding. The round was led by Lifeline Ventures and joined by angel investors Ilkka Paananen (CEO & Co-founder of Supercell) and Miki Kuusi (CEO & Co-founder of Wolt).
Founded in 2020 by Johannes Salmisaari and Henrik Helenius, the platform is building an online marketplace that brings European industrial equipment manufacturers and industrial buyers together. Currently, the top concern for industrial buyers is finding and stocking operating supplies that are painless to buy in bulk, low in cost and responsibly sourced.
The platform plans to make the European wholesale industry more connected by creating shorter and more responsible supply chains. The company's easy-to-use online marketplace is already used by some of the biggest industrial key players and publicly listed companies in Europe.
Johannes Salmisaari, CEO and Co-founder, Droppe, said: “As industrial wholesale moves online, more and more industrial buyers will be looking for new ways to bulk order products via the internet. Droppe is the first in the market to build a European industrial wholesale marketplace, a mission that we are excited to continue building and expanding with new resources.”
“The online marketplace streamlines the buying process and makes it easier for industrial buyers. Buyers are now able to order directly from multiple manufacturers across Europe at the same time, all on one invoice–something that the industry hasn't seen before,” Henrik Helenius, Co-founder, Droppe said.
In just under two years, Droppe has reached a GMV of €4 million and over 500 customers from SMEs to publicly listed companies, bootstrapped. With the newly raised seed round, Droppe will expand its operations to Germany and further accelerate their growth in Sweden and Finland.
Currently, Droppe has over 30 local suppliers from the Nordics and EU. Droppe’s platform is only accessible for suppliers, carefully vetted by the team. Droppe only accepts original manufacturers or official importers.