Print-on-demand platform Moteefe raises €9.3 million
Moteefe, a Dutch platform for on-demand production of merchandise, has successfully completed an 11 million dollar (9.3 million euros) funding round. It was led by new investor BGF, with participation from existing investors. The round follows a Series A fundraise announced earlier this year.
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Last February, Moteefe announced it raised 4.5 million euros in a Series A round led by Gresham House and Force Over Mass Capital. A total of about 19.4 million euros has been raised by the Dutch platform so far. With the fresh capital, Moteefe will go live with an enterprise solution for retail.
‘Fast growth trajectory during the first part of 2020’
“We were impressed with how Moteefe’s platform capabilities have allowed it to continue on its fast growth trajectory during the first part of 2020 despite the Covid-19 pandemic. This performance has underlined the demand in the market for their technology as the global retail landscape undergoes a massive transformation”, said Daina Spedding, investor for BGF.
Currently, over 5,000 retailers of all sizes use the platform to sell, produce, and fulfil all kinds of merchandise. They use the platform as a fully integrated end-to-end service or they pick and choose only the parts they need. Moteefe is white-labeled, which means the retailer owns the customer relations and can use the data to drive repeat sales.
Currently, over 5,000 retailers of all sizes use the platform.
The number of users has doubled
CEO and founder Mathijs Eefting says his company has seen a doubling in users. “We have moved beyond our original goal to help anyone set up a store and sell globally. We now are able to support innovative retailers of all sizes to respond to entirely new ecommerce demands and opportunities as customers continue to walk away from old fashioned brick and mortar sales store environments.”
20 production and fulfillment partners
Moteefe has a network of 20 production and fulfillment partners across Europe, the US, Canada, Australia, and Brazil. It showed a growth of 150 percent during the first half of this year. Products have been sold and shipped into 166 countries across the globe.