Shop Circle secures 120 million dollars
Software provider for ecommerce brands, Shop Circle, has raised 120 million dollars (111.8 million euros) in a funding round. The startup will use the capital injection to expand its suite of products. It wants to become a one-stop shop software provider for online sellers.
Shop Circle was launched in the United Kingdom in 2022. It has released a suite of back-end and customer-facing solutions for online sellers. Recently, it also launched a data-driven tech stack consultation program. It uses AI and data-driven insights to help brands reduce costs and increase conversion.
‘Shop Circle already has more than 100,000 customers.’
According to the company, it already has a customer base of over 100,000 ecommerce brands all over the world. It was able to achieve a 360 percent year-over-year growth. Now, the company announces the closing of its funding round with 120 million dollars.
Funding to develop more products
With the new funding, the company wants to expand its product suite. In doing so, it wants to build the forefront of ecommerce as a one-stop shop software provider for ecommerce businesses.
‘We want to be a comprehensive operating system for ecommerce brands.’
“We are thrilled to announce the successful close of our Series A funding round, which will enable us to continue building and expanding our suite of ecommerce tools”, says Luca Cartechini, the CEO and Co-Founder of Shop Circle. “Our vision has always been to create a comprehensive operating system for ecommerce brands, providing them with the necessary technology to excel in today’s competitive market.”