Funding

Marketplace aggregator SellerX has announced that it is letting go of a fifth of its workforce. This comes down to 170 jobs out of a total of more than 800. The company is doing this because it needs to cut costs.

French software company Stockly is a stock pooling and exchange solution for online sellers. The company now announces that it has raised 26 million euros. With the capital injection, it wants to accelerate its growth in Europe.

The rumors had been circulating for a while, but now it’s official: Mytheresa wants to acquire industry peer Yoox Net-a-Porter from Richemont. This will create a “leading, global, multi-brand digital luxury group”, according to the involved parties. As part of the deal, Richemont will acquire a 33 percent stake in the rapidly growing Mytheresa.

SellerX, a buyer of successful marketplace sellers, can no longer meet its financial obligations. The Berlin-based company, only four years old, will be auctioned in the German capital on September 17. This decision was made by financier BlackRock.

E-commerce Park of Sweden, an incubator based in Helsingborg, is launching a parallel program to its existing incubator. With the new program, it will help companies with business models focused on sustainability in their ecommerce efforts.

Wholesale marketplace Qogita has raised 80 million euros in a funding round. The platform wants to use the capital injection for product development and category expansion. The company has now raised a total of 119 million euros.

Ecommerce fulfillment company Huboo has raised 33.7 million euros (29 million British pounds) in a new funding round. This brings the company’s total amount raised to 141.8 million euros (122 million British pounds).

Secondhand fashion platform Vinted is considering a secondary share sale, worth more than 200 million euros. The platform, which is currently operating at a loss, is looking into its capital structure. This means that is currently not planning an IPO.

French software solution for services marketplaces, Scnd, has raised 4 million euros in a funding round. The company wants to use the capital injection to expand its ecommerce solution, as well as strengthen its position in the market.

Fasanara Capital, a UK-based institutional asset manager is launching a fintech fund of 1 billion euros together with credit insurer Allianz Trade. The fund will target the B2B ecommerce sector. By doing so, it will boost the sector’s growth.

Software provider for ecommerce brands, Shop Circle, has raised 120 million dollars (111.8 million euros) in a funding round. The startup will use the capital injection to expand its suite of products. It wants to become a one-stop shop software provider for online sellers.

Starcart has secured funding to explore new markets in Europe. The Finnish startup offers an ecommerce platform powered by AI that is revolutionizing online shopping.

Marketplace solution provider Mirakl has secured 100 million euros in debt financing. The funding will be used to enhance its technology and to finance acquisitions. The company was already valued at over 2,92 billion euros in 2021, after a Series E funding round of 468 million euros.

Amazon has launched a flexible financing solution for small and medium-sized businesses in the United Kingdom. Amazon sellers in the country can apply for a cash advance, which will be repaid based on their sales. Loans can range up to two million euros.

Spanish returns management software provider Rever has raised 7.5 million euros in a seed funding round. The capital injection will be used to fund the startup’s growth and international expansion. The company will be adding AI-powered functionalities to its offer later this year.