Moteefe bags new funding as retail undergoes massive transformation

E-commerce platform venture, Moteefe, has completed a $11 million funding round.

New investor BGF led the round with participation from existing backers, including Gresham House Ventures and Force Over Mass Capital. It follows a $5 million Series A fundraise announced in February and brings Moteefe to $23 million in total funding.

“We were impressed with how Moteefe’s unique platform capabilities have allowed it to continue on its fast growth trajectory during the first part of 2020 despite the Covid-19 pandemic. This performance has underlined the demand in the market for their technology as the global retail landscape undergoes a massive transformation” says Daina Spedding, investor for BGF who led the deal.

“What Moteefe represents is truly visionary - bringing together the entire ecosystem from store to just in time production and delivery - to solve the challenges retailers are facing getting to grips with the new speed, quality, choice and sustainability expectations of consumers. Those retailers don’t have the time to piece individual technologies together.”

“At a time when global retail has been suffering and supply chains have virtually ground to a halt, we have seen a doubling in users and strong customer demand for our retailers’ products. This increased demand enabled us to grow our team and increase our production throughput, benefitting our entire network and creating high quality jobs internationally,” comments Mathijs Eefting, CEO at Moteefe.

“We have moved beyond our original goal to help anyone set up a store and sell globally. We now are able to support innovative retailers of all sizes to respond to entirely new e-commerce demands and opportunities as customers continue to walk away from old fashioned brick and mortar sales store environments.”