London based eCommerce Platform as a Service (PaaS) which provides infrastructure, customization and global fulfilment to retailers ranging from small to big, Moteefe, has announced on 3rd September, 2020, that it has secured around €9.2 million in a funding round led by a new investor BGF. Other participants include the existing investors such as Force Over Mass Capital and Gresham House Ventures.
Incorporated in the year 2015, the start-up supports retailers of all size and brands to offer unique and personalized merchandisable products. Moteefe claims that 5000+ retailers have deployed its end-to-end completely flexible platform to build an online store and offer their customized products on their own site.
Big retailers in the market are also turning to Moteefee to offer their products to the customers. According to the company, these retailers are working with them to test the new product range and styles at both large and small scale, which is often difficult for them to handle with their ill-equipped supply chain and outdated systems.
Since the beginning of 2020, the company has made significant leaps by expanding with 40 new hires and 3 new executives who are well experienced and have the potential to expand the company. Motefee boasts of a network of twenty production and fulfillment partners across Canada, Brazil, USA, Australia and Europe making global entrepreneurs and retailers to easily catch international demand.
The platform also claims to remove the wastage, risk and upfront cost which is normally related to testing ideas and markets and geographies without any production run enabling the rapid production scale up of successful products to catch demand. It also enhances supply chain sustainability and efficiency by working with local fulfillment partners to reduce shipping distance.
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