Poland-based merXu, an online trading platform dedicated to Central and Eastern Europe companies engaged in B2B business, raised an undisclosed amount on 15th November.
Investors: Prosus Ventures led the Series A funding round with existing investors Accel and Point Nine participation.
Purpose of funding: The company focuses on growth, plans to enter new European countries, targeting Germany first. A portion of the funds will be used to integrate B2B payments into its platform and build out its team. The new hires will increase operations, resulting in a better customer experience.
Founded in 2020 by Przemysław Budkowski, Tomasz Nowak and Sebastian Pietrowski, merXu is located in Poznań, Poland. merXu is an online trading platform primarily designed for Central and Eastern European businesses that operate in the B2B sector, including small, medium, and large enterprises alike. Through this platform, verified buyers and sellers are connected and are able to conduct direct business and inquire directly. The company’s objective is to provide businesses of any size with an online platform for B2B transactions on a national or international scale to support their digital transformation.
What the founder has to say
“Business owners and procurement managers are simply spending too much time finding professional and reliable sellers. Manufacturers on the other hand struggle to expand their businesses internationally, facing challenges with payments and logistics experience. We’ve seen the B2C space transition into a largely seamless experience today – one that is almost expected. merXu is looking to expand this accessibility and ease of purchasing to the B2B ecosystem in Europe. This new funding will allow us to accelerate our growth, while layering in new features with the European customer in mind,” said Przemyslaw Budkowski, CEO and Co-Founder at merXu.
What the investors have to say
“Prosus Ventures invests in sectors around the world where innovation can significantly address big societal needs. The merXu team has built a product with clear consumer value that sits at the forefront of a few major trends: the acceleration of ecommerce adoption, nearshoring and the shift in manufacturing to Central and Eastern Europe. There are clear expansion opportunities ahead and we are delighted to join merXu’s exceptionally strong team as an investor. We look forward to supporting the company in its next phase of growth,” said Sandeep Bakshi, Head of European Investments at Prosus Ventures.
“merXu’s B2B online trading platform, bringing together verified buyers and sellers, is providing business owners, procurement professionals and manufacturers with the same seamless digital experience that is already prevalent in the B2C space. With a large, fragmented market ripe for disruption, and an exceptional founding team that has successfully developed similar platforms before, there’s a huge opportunity for the merXu team ahead. We’re excited to be part of the journey,” said Sonali De Rycker, Partner at Accel.
“Merxu has made great progress since we invested in the company’s seed round last year. It is now ready to scale its business and take online wholesaling to a level that can unlock the huge potential of the market. We’re excited to continue supporting Przemyslaw and his team on their further journey,” said Pawel Chudzinski, Partner at Point Nine.
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