MagaLoop bags €9 million in funding for digital B2B marketplace

MagaLoop, a Berlin-based startup whose app-based ordering platform connects independent retailers directly with suppliers, has raised €9 million in funding.

The round was led by existing investors Market One Capital and FoodLabs.

Previous backers Redalpine Capital and Bitburger Ventures also participated alongside new investors Fuse Venture Partners, Créateurs de Convivialité Ventures and Hesta Investments.

“With the new round of financing, we can continue to drive and specifically shape the structural change in the impulse channel aiming for sustainably strengthening the competitiveness and future viability of small, independent retailers,” says Uwe Hölzer, Co-founder at MagaLoop.

“As the only digital platform in this market segment, we are in an excellent position to further expand our market leadership in the coming years.”

“We’re happy to continue backing the experienced and ambitious MagaLoop team,” says Patrick Huber, General Partner at FoodLabs.

“Building on strong traction, we see great momentum for further expansion of MagaLoop’s business, enabling even more independent retailers to digitise and run their business more efficiently in a highly competitive space. “

Marcin Zabielski, Managing Partner at Market One Capital, says: “One of our investment theses is that European, traditional, wholesale distribution will be digitised in the coming years.”

“More and more owners of small stores and kiosks will choose convenience and additional, financial and logistic services over the current, imperfect model. We have supported MagaLoop almost since the very beginning because they realise this ambitious vision.”

MagaLoop, which was founded in 2018, will use the cash to expand its network of independent wholesalers and retailers and drive additional platform expansions.