Glopal, a leading cross-border e-commerce platform, has recently announced that it has secured €20 million in a funding round to support its growth and expansion efforts. The funding round was led by the European Investment Bank (EIB) and supported by existing investors such as DN Capital, 3TS Capital Partners, and FJ Labs.
Glopal was founded in 2015 with the aim of helping retailers expand their businesses globally by providing them with a platform that simplifies cross-border e-commerce. The platform offers a range of services, including international shipping, local payment options, and localized pricing and taxes. With Glopal, retailers can easily sell their products to customers in over 25 countries worldwide.
The recent funding round is a significant milestone for Glopal, as it will enable the company to accelerate its growth and expand its services to more countries. The company plans to use the funds to invest in product development, marketing, and hiring new talent to support its expansion efforts.
According to Glopal CEO, William Johnson, “This investment is a testament to the strength of our platform and the potential for cross-border e-commerce. We are excited to use this funding to continue to innovate and provide our customers with the best possible experience.”
The EIB’s investment in Glopal is part of its efforts to support innovative and high-growth companies in Europe. The bank’s Vice President, Alexander Stubb, stated that “Glopal is a great example of a European company that is using technology to disrupt traditional industries and create new opportunities for businesses. We are proud to support their growth and expansion efforts.”
The funding round comes at a time when cross-border e-commerce is rapidly growing, with more and more retailers looking to expand their businesses globally. According to a report by eMarketer, global cross-border e-commerce sales are expected to reach $1 trillion by 2023.
In conclusion, Glopal’s recent funding round is a significant milestone for the company and the cross-border e-commerce industry as a whole. With the support of the EIB and other investors, Glopal is well-positioned to continue its growth and expansion efforts, providing retailers with the tools they need to succeed in the global marketplace.
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- Source: Plato Data Intelligence: PlatoData