Orderchamp raises 16.5 million euros
Dutch wholesale platform Orderchamp has raised 16.5 million euros for further expansion in Europe. The Series A-round was led by venture capital firm Prime Ventures, while existing investors henQ and several business angels also participated.
The fresh funding follows only two years after Orderchamp’s inception in September 2019. The b2b company started in the Netherlands and is currently active in the Benelux, Germany, and France. In a few months, the company will open a physical office in Germany, but with the growth capital more markets in Europe should follow soon.
Increasing the international footprint
“The majority of the investment will be used to increase our international footprint, improve the digital purchasing experience, and further develop our powerful technology including machine learning and integrations with ecommerce software“, co-founder and CEO Joost Brugmans says.
Every day, we want to add dozens of brands.
“Our retailers visit our platform several times a week to source unique products for their store or webshop. That is why we pursue adding dozens of new brands daily rather than weekly, which retailers can purchase quickly and easily. Based on previous sales data of tens of thousands of retailers, we can better predict whether a product will sell in that particular store. This way, our stores can continue to stand out from the crowd and strengthen local retail.”
Brugmans thinks Prime Ventures is the perfect match. “Through their previous investments, they are experts in online marketplaces, ecommerce, and fintech. And exactly this combination convinced us to work together to become a global leader within our category.”
Traditional wholesale is very fragmented.
Thijs Emondts of Prime Ventures calls traditional wholesale very fragmented and not very innovative. “Through its technology, such as data-driven recommendations, a unique assortment and a smart go-to-market strategy, Orderchamp offers both retailers and brands a unique customer experience. We are very impressed with Orderchamp’s team, its explosive growth and high customer retention”, he comments.