German e-commerce solutions provider Shopware has opened its doors to external investors, and in so much raised $100 million from Carlyle and PayPal. The new investment is slated to help drive and expand upon continued growth, in both existing and planned markets. This is the first time the company has raised any form of external capital, remaining bootstrapped since its inception in 2000.
While company founders Sebastian and Stefan Hamann have divested for the first time, they will remain majority shareholders and continue to run the company, but point to Carlyle and PayPal’s extensive networks and industry clout as a major step forward for the company.
“This funding will help us supercharge our international growth – enabling Shopware to capture the significant opportunities ahead of us. As a business, we are proud to have been profitable from day one, and are excited to work closely alongside Carlyle and PayPal to build on Shopware’s positioning in the long term,” commented Stefan Hamann.
Brother Sebastian Hamann added, ““The past few years have accelerated the need for an open-source approach that provides outstanding shopping experiences for customers, and we are poised to further benefit from this growth opportunity. We’re looking forward to working with Carlyle and PayPal – two companies with strong expertise in digital commerce – on the next stage of our journey.”