British startup Moteefe, the e-commerce platform providing infrastructure, customisation and global fulfilment for retailers of all sizes, has successfully completed an approx. €9.2 million funding round. New investor BGF led the round with participation from existing investors including Gresham House Ventures and Force Over Mass Capital.
Founded in 2015, Moteefe enables brands and retailers of all sizes to offer unique and personalised merchandisable products within minutes. More than 5,000 retailers have already used Moteefe’s fully flexible end-to-end e-commerce platform to set up an online store or offer customised products on their own site.
“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” said 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.”
Large retailers are turning to Moteefe to offer customised products for their customers. They are also working with the platform to efficiently test new product styles and categories at both small and large scale, which their often outdated systems and supply chains are ill-equipped to handle.
With no minimum production run, Moteefe’s platform removes the risk, wastage and upfront cost normally associated with testing ideas, geographies and markets, enabling the rapid scale up and production of successful products to meet demand. It also improves supply chain efficiency and sustainability by working with local fulfilment partners to minimise shipping distances.
Retailers of all sizes have total flexibility: they can use the Moteefe platform either as a fully integrated end to end service, or just pick and choose the parts they need. And as Moteefe is whitelabelled, the retailer owns the customer relationship and can use the data to drive repeat sales.
“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,” said Mathijs Eefting, CEO of 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 ecommerce demands and opportunities as customers continue to walk away from old fashioned brick and mortar sales store environments.”
Since the start of 2020, Moteefe has made significant leaps. It has expanded with 40 new hires and three new executives whose experience will support the company’s expansion and enterprise proposition. Moteefe now boasts a network of 20 production and fulfilment partners across Europe, USA, Canada, Australia and Brazil, enabling retailers and entrepreneurs from around the world to easily tap international demand.