Two thirds of online merchants in Europe have needed extra finance in the past two years. Loans carried out after the outbreak of the corona virus aren’t included in this statistic. Online merchants need a loan the most for buying equipment.
Online fashion retailer Boohoo has acquired PrettyLittleThing. The company already owned 66 percent of PrettyLittleThing’s shares, but now Boohoo also owns the remaining 34 percent of shares. These shares come from Umar Kamani, the son of Boohoo co-founder Mahmud Kamani, and business partner Paul Papworth.
Stripe has expanded its payment services in Europe. The American tech company is now generally available in the Czech Republic, Romania, Bulgaria, Cyprus, and Malta. The payments company can now support businesses in 29 countries across Europe.
Otrium, an online fashion outlet platform from the Netherlands, has raised 24 million euros. This happened during a series B round, led by Eight Roads Ventures and current investor Index Ventures. With the money, Otrium wants to further expand its platform.
Neleman, the online store of Dutch winemaker and merchant Derrick Neleman, is expanding further across Europe. The omnichannel company will soon open online shops in Belgium, Germany and Spain.