Glopal raises €20 million in funding round
Ecommerce international expansion software provider Glopal has raised 20 million euros in a Series A funding round. The startup will expand its operations in Europe, the United Kingdom and the United States with a recruitment drive. Additionally, it will use the funding to invest in its technology.
Sales increased 3 times
The Paris-based company is an ecommerce international expansion tool. The company’s solution is geared towards cross-border sellers and offers translation, international marketing and payments, logistics integration and tax and duty calculations. According to Glopal, customers increase their sales by an average of three times.
‘The startup has already enabled more than €400 million in cross-border transactions.’
Currently, the expansion software has a customer base in more than 100 countries. The startup has already enabled over 400 million euros in cross-border transactions for users in Europe and North America.
Funding to accelerate growth
Now, the company has raised 20 million euros in a funding round. It wants to use the capital injection to accelerate its growth and expansion. To achieve this, the startup will hire more staff. It is also investing in its technology, to strengthen its competitive advantage.
‘We are now well-equipped to accelerate our growth and offer innovative solutions.’
“In the current economic climate of high inflation, brands are seeking a competitive and cost-effective solution to expand into fast-growing international markets. As cross-border ecommerce solutions are emerging as a unique category with limited competition, our aim is to stay ahead of the curve and continue leading the market as the next generation cross-border sales solution”, said Patrick Smarzynski, CEO. “With this round of funding, we are well-equipped to accelerate our growth and offer innovative solutions that cater to the evolving needs of our clients”.