Global-e raises €17.5 million to accelerate growth in Europe
Global-e, an Israeli ecommerce startup that enables retailers to go cross-border, has secured a 20 million dollar (€17.5 million) investment led by Red Dot Capital Partners. The cross-border company wants to use this capital to support and accelerate its growth and expansion in Europe.
Global-e got the money from Red Dot Capital Partners, which is a growth stage capital fund funded by Temasek Holdings, an investment company that’s owned by the Singapore government. The capital fund aims to invest in Israel related high-tech growth companies and now Global-e is one of them.
The capital will be used to accelerate the company’s growth across Europe, in particular in the United Kingdom, France and Spain. Global-e also wants to expand its head office, R&D centers, sales offices and operational centers across Europe. “There is an increasing opportunity for retailers of all sizes to take advantage of the potential growth that cross-border ecommerce can provide”, says CEO and co-founder Amir Schlachet. “With emerging markets competing with Europe and the US, there couldn’t be a better time to start doing business in new overseas markets. With this investment we plan to grow our cross-border e-commerce services further.”
Global-e was founded in 2013 and claims to be the leading European provider of cross-border solutions for ecommerce retailers. The company has its headquarters in London and enables retailers to provide a localized ecommerce offering in more than 200 countries worldwide. The company expects to grow by 500 percent by the end of this year and attends many ecommerce events in Europe.