Investible has participated in a seed funding round for MerchantSpring, a leading marketplace management platform that gives retailers the insights they need to sell more successfully across popular marketplaces.
Today, many small businesses are looking for new ways to remain competitive, particularly amidst challenging retail conditions and in the wake of COVID-19. With popular marketplaces like Amazon, eBay, Catch and The Iconic now capturing 58% of the global e-commerce market, MerchantSpring provides retailers with a simple, cost-effective solution to increase their sales power.
MerchantSpring’s self-service SaaS platform Marketplace Manager gives sellers a single view of all of their marketplace stores, making it easier for businesses of all sizes to optimise their product listings, improve SEO performance and increase sales across multiple countries and platforms. Customers have included major brands such as Coles, Petstock, Jeanswest, L’Oreal and Brita.
“The average retailer is across three to four marketplaces today and is likely to be on six to eight marketplaces in three years, so it’s getting harder and harder for business owners to effectively manage these channels,” said MerchantSpring CEO and co-founder Paul Sonneveld.
“We have built a platform that provides a holistic view of your sales health as well as practical recommendations and strategies you can use to drive sales,” he added.
What is the story behind MerchantSpring?
Before starting MerchantSpring, Mr Sonneveld served as General Manager at Catch.com.au (previously known as Catch of the Day) and in senior roles at Coles. He then joined cofounder James Dihardjo to build out the successful marketplace services arm of MerchantSpring, which now boasts more than 65 clients across a wide range of retail and wholesale categories.
In total, its team has optimised more than 15,000 products on marketplaces across multiple countries; with much of that insight being used to drive the development of its SaaS product.
“Early validation of product-market fit is important. MerchantSpring’s Services business has demonstrated that merchants of all sizes need effective tools and resources to expand their sales reach and optimise their performance,” said Daniel Veytsblit, Investment Director, Investible.
“MerchantSpring has a detailed roadmap to integrate with marketplaces globally in the next three years, providing their customers an efficient method to scale globally”.
MerchantSpring is the fourth new investment for the Investible Early Stage Fund in 2020 to date. Investible has now made 22 investments from that fund.