The e-commerce data integration firm Productsup has recently closed another funding round. Thanks to
this one, they were able to raise $20 million. Now, they have a total of $45
million that will be used for further product development and international
expansion.
Based in Berlin, this firm offers online retailers with visibility
of product data. It also allows them to update information on their items in
real time. As such, its clients do not have to rely on managed services to
integrate product feeds or meet channel requirements. Thanks to its platform
self-service mechanism, product data can be aggregated, optimised, and
distributed across all relevant channels. Some of Productup’s clients are Farfetch, Hewlett-Packard and IKEA.
This recent funding round was led by Nordwind Capital and
venture debt provider Deutsche Handelsbank in combination with KfW.
Additional investors, Moritz Zimmermann, co-founder of Hybris (acquired by SAP)
and partner at 42Cap, and the co-founders of Contorion, Richard Schwenke and
Tobias Tschötsch, also participated.
Speaking about this investment, Peer Simon, the Head of
Growth Finance and Venture Debt at Deutsche Handelsbank advanced, “We are
pleased that we have been able to expand the business relationship with Productsup
despite strong competition with other international venture debt providers”.
Productup will expand its services © Royalty-free image
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