E-commerce venture Productsup closes $20m funding round
Berlin-based e-commerce data integration company, Productsup, has raised $20 million in funding led by Nordwind Capital and Deutsche Handelsbank.
This brings its total funding to date to $45 million.
It will use the cash to drive innovation in product development, scale marketing and sales initiatives and expand its solutions to new markets, particularly in North America.
“When we founded Productsup about 10 years ago, it was clear that the future of retail would be e-commerce,” says Johannis Hatt, CEO and Co-founder, Productsup, which counts Farfetch, Superdry and Ikea as customers.
“This fuelled creativity and innovation for the industry, but also created obstacles for brands and retailers.”
“We help brands and retailers remove the barriers that stifle success in today’s digital landscape, enabling them to easily blend online and offline experiences to drive sales.”
“I’m excited to see how this new capital will further our mission and bring a new era for our employees, partners and customers.”
“We are pleased that we have been able to expand the business relationship with Productsup despite strong competition with other international venture debt providers,” says Peer Simon, Head of Growth Finance and Venture Debt, Deutsche Handelsbank.
“As a fast growing SaaS company with strong investors, it is the perfect match to DHB’s strategy and sought after target group. This joint transaction with KfW is the proof for our lean and founder friendly venture debt offer.“