Moteefe, the e-commerce platform for on-demand production of product, has actually raised$11 million in what, according to filings, appears to be part among a Series B. Leading the round is BGF, with participation from existing investors, consisting of Gresham Home Ventures and Force Over Mass Capital.
The injection of capital will be used by Moteefe to continue scaling and to meet growing need from business owners and retailers that want to use customised items to their consumers. This progressively consists of larger merchants that are using the platform to test brand-new item styles and categories, which, says Moteefe, out-of-date systems and supply chains are ill-equipped to handle.
Released in early 2016, Moteefe provides an “end-to-end” technology service for entrepreneurs, influencers and micro to large retailers wanting to style, sell and create personalized products, such as printed tee shirts or engraved precious jewelry. The platform enables brand names to design product and offer it by means of their own white-labeled Moteefe shop or through their own website, app or other marketing channels.
You upload your design to the Moteefe website and the business looks after printing, the store, payments, customer service and fulfillment globally. Moteefe then takes a little commission on sales. However, unlike some standard markets, users can launch their own shop with their own domain, maintaining the customer relationship and data.
The draw is that without any minimum production run, Moteefe’s platform eliminates “the risk, wastage and in advance cost” normally related to screening geographies, markets and concepts. It likewise claims to enhance supply chain effectiveness and sustainability by working with regional fulfillment partners to minimise shipping ranges.
“Sellers of all sizes have overall flexibility: they can use the Moteefe platform either as a fully integrated end to end service, or just pick the parts they require,” says the business. “And as Moteefe is white-labeled, the merchant owns the client relationship and can utilize the information to drive repeat sales.”
To date, Moteefe says it has more than 5,000 sellers, from indie business owners to High Street brand names, utilizing the platform.
“At a time when international retail has been suffering and supply chains have virtually ground to a stop, we have actually seen a doubling in users and strong client need for our retailers’ items,” states Mathijs Eefting, CEO of Moteefe, in a statement. “This increased demand allowed us to grow our team and increase our production throughput, benefiting our entire network and producing premium jobs worldwide. We have moved beyond our original objective to assist anyone established a store and offer internationally. We now have the ability to support ingenious sellers of all sizes to respond to entirely brand-new e-commerce demands and chances.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.