London-based startup Moteefe, a print-on-demand platform for e-commerce, has raised a $5 million Series A round led by Gresham House and Force Over Mass Capital. The funding will fuel expansion to two new continents, Australia and South America, and the launch of new products for large retailers.
Founded in 2015, Moteefe allows entrepreneurs, influencers, and micro-retailers to design, create and sell products online. Brands use the end-to-end platform to design new products and immediately publish them for sale, on a white-labelled Moteefe store or their own platform.
The flexibility and immediacy of the Moteefe system suits the modern Instagram-driven, meme-flooded consumer market. Brands can instantly capitalise on fleeting trends, such as viral content, and have endless ways to personalise their products.
“Now, major retailers are also starting to show interest, as they too need to quickly provide on-demand products and have an easy way to test new ideas — challenges for which their incumbent systems and supply chain are just not prepared,” explained Mathijs Eefting, co-founder and CEO. “This new funding will enable us to continue to work with entrepreneurs and retailers from all sizes around the world.”
In addition to its London headquarters, the startup also has offices in Lisbon and Hanoi, as well as a network of 15 production and fulfillment partners across Europe, the US, and Brazil.
The company was named the UK’s 4th fastest growing technology company in last year’s Deloitte Fast 50 ranking for achieving a revenue growth rate of over 9,000 percent between 2015 and 2018.