Fulfillment solution Outvio raises 2.52 million euros
Outvio, a fulfillment solution from Estonia, has raised 3 million dollars (2.52 million euros) during a financing round led by Change Ventures. It’s the first round of fundraising fot Outvio and the startup will use the money to expand its team and to launch further in Europe.
The financing round was led by Change Ventures, with participation from TMT Investments, Fresco Capital and Lemonade Stand, as well as several angels, including James Berdigans (Printify) and Kristjan Vilosius (Katana MRP).
Outvio has already achieved success in Spain and Estonia.
The over 2.5 million euros raised by Outvio marks the largest first round of investment in an Estonian startup in the last four years. The money will bring the suite of fulfillment software to online retailers throughout Europe. Until now, Outvio has found success in Spain and Estonia and more markets will follow soon.
White-label solution for medium-sized and large retailers
Outvio’s software is aimed at medium-sized and large online retailers. The company’s white-label solution provides tracking, returns, and order management tools, allowing their clients to provide a streamlined fulfillment service.
Online stores can manage and automate all processes after the sale.
“Online stores can manage and automate all processes after the sale, including shipping orders, but most importantly, they can control everything that happens after the order has been shipped”, the company explains. Customers can share real-time order status updates on a custom tracking page and use a self-service portal to handle all returns.
Integration with Shopify, WooCommerce, and more
“We can give any online store all the tools needed to offer a superior post-sale customer experience. We can integrate at different points in their fulfilment process, and for large merchants, save them hundreds of thousands in development costs alone”, co-founder and CEO Juan Borras says.
What happens after the purchase is more important than most shops realize.
“What happens after the purchase is more important than most shops realize. More than 88 percent of consumers say it is very important for them that retailers proactively communicate every fulfilment and delivery stage. Not doing so, especially if there are problems, often results in losing that client.”
Outvio, based in Tallinn, was founded in early 2018 and has been completely self-funded since then. Last the, the company managed to grow its revenue 500 percent. With the new funding, Outvio wants to hire marketing specialists and developers and expand its services across Europe.