Parisian e-commerce international expansion tool for e-commerce merchants, Glopal has raised €20 million in a Series A funding round. The fresh commerce will see the company further develop its cross-border e-commerce software solution all the while expanding operations across Europe and the US through a sustained recruitment drive.
Glopal’s €20 million Series A round was provided by Hi Inov, Dentressangle, and Crédit Mutuel Innovation, with existing investors Seventure and Axeleo Capital, participating in the round. Additionally, Glopal received the support of Motier Ventures (the family office of the owners of Galeries Lafayette) and Pierre Denis (former CEO at Jimmy Choo) in this round.
According to the company, Glopal’s e-commerce solutions increase clients' global sales by an average of three times by optimising translation processes, international marketing initiatives, international payments, logistics integration, and tax and duty calculations.
The company counts Dior, Balmain, Loewe, and Babolat amongst its client base, and says it’s facilitated more than four hundred million dollars in cross-border transactions for both American and European customers.
"Today, more than ever in a context of high inflation, brands are looking for a cost-effective solution to deploy on fast-growing international markets. Cross-border e-commerce solutions are becoming a category of their own with few competitors,” says Glopal CEO Patrick Smarzynski. “This round of funding will allow us to stay ahead of the curve as the next-generation cross-border sales solution.”