E-commerce platform MarketLeap secures €2.6m seed round and eyes expansion of global reach

Luxembourg-based MarketLeap, formerly Gonuggets, has secured an additional €1.5 million in seed funding, taking its total funding to €2.6 million.

The latest round sees Notion Capital, Kima Ventures, and Motier Ventures, among others, joining existing investors, including Luxembourg’s Expon Capital.

The cash will be used to accelerate the startup’s operating system’s technical development, including the addition of new service offerings, and to facilitate expansion into the US while scaling UK operations.

MarketLeap was founded in 2022 by Mamoun Benkirane and Mekki Mouaddeb, pictured below, former employees of Amazon and Jumia.

“Currently, most brands reach only 0.2% of their total marketplace potential due to a lack of expertise, time, and money. They end up spending over 70% of their time managing their marketplace operations, accounting for less than 20% of their total revenue,” says Benkirane.

“MarketLeap helps brands break through their revenue ceilings on e-commerce marketplaces. We make marketplaces the easiest sales channel for brands, with no time, effort, or capital required, allowing them to focus on what they are the most passionate about, building and sourcing their products.”

The company currently helps brands sell on marketplaces across more than 30 countries, with customers including Danish watchmaker Nordgreen, Swedish audio product manufacturer Defunc, British collagen producer Edible Health, and Germany’s Guggenheimer Coffee.

"Partnering with MarketLeap is a significant milestone for us. It opens up tremendous opportunities for us to reach a wider audience and make a greater impact,” says Jessika Nilsson, COO at Edible Health.

“We really appreciate its tech first approach to e-commerce, and the result has helped us offer our products to global audiences with almost no extra effort.”

"The e-commerce landscape is evolving rapidly, and online marketplaces are becoming the established backbone for many of the largest online retailers. The skilled and experienced founding team immediately made MarketLeap’s potential and differentiation clear in this noisy field,” says Owen Reynolds, Venture Partner at Expon Capital.

“It is pioneering the way brands expand globally, compete effectively, and access hidden demand. We are honored to back them and support their continued journey ahead.”

“Our platform is integrated with several partners, including 3PLs and finance service providers to manage all the operational complexities while continuously supporting our partner brands as they scale up,” says Mouaddeb.

“MarketLeap holds brands’ inventory in its fully outsourced supply-chain network while offering better payment terms than marketplaces. The company uniquely invests in partner brands, contributes to marketing expenses, optimises listings, and supports various other initiatives.”

Benkirane concludes: “We have proven so far that our proprietary technology can help us screen, launch, and scale brands on multiple e-commerce marketplaces incredibly efficiently.”

“This new funding round will allow us to speed up our rich feature suite while expanding even faster into new channels and countries. Our aim is to build a complete new layer of tech infrastructure that seamlessly connects thousands of brands to hundreds of marketplaces.”