INKEF Capital heads up ChannelEngine Series A funding round
ChannelEngine, a marketplace integration platform for e-commerce players, has landed €5 million in Series A funding led by INKEF Capital, with participation from existing investor Airbridge Equity Partners.
It says that it will use the cash to accelerate its global roll-out and continue the development of its product and channels. The venture also plans to hire 70 new employees worldwide in 2021 across various levels and roles.
ChannelEngine has raised just under €6.5 in total.
Kyang Yung, Junior Partner at INKEF, comments: “The company has grown like a rocket ship off the back of Covid, although pre-Covid rates were already more than impressive.”
“And, as brands across the globe are finally taking the leap to go direct-to-consumer, ChannelEngine’s customer roster now also boasts some pretty impressive global brands.”
“For us, it was the interesting market position, the traction, and last but not least, the team’s deep domain knowledge of e-commerce which made us decide to make this strong, conviction-based investment.”
Jorrit Steinz, CEO and Founder, ChannelEngine, says: “On a global scale, e-commerce is becoming a driving force of all retail sales. Customers have shifted their search behaviour for products from search engines to marketplaces.”
“Large e-commerce players, as well as search engines, social media platforms and comparison sites are turning into marketplaces themselves.”
“While this creates more sales opportunities for brands and retailers, they are faced with the challenge of managing all these different channels at the same time. That's why we’ve built ChannelEngine.”