Dutch scale-up Orderchamp, a fast-growing wholesale marketplace for brands and retailers, has raised around €16.6 million in growth capital for further expansion in Europe, only two years after its inception. The Series A round is led by Prime Ventures, which previously invested in JustEat-TakeAway.com (TKWY), amongst others. Existing investors henQ and several business angels also participated in the round.
Thousands of retailers use Orderchamp’s platform to discover and buy from more than 1,800 European brands easily. Brands, in turn, gain access to 30,000 retailers from all over Europe through the platform. With its favourable purchasing conditions, such as low order minimums, 60-day payment terms and free shipping, Orderchamp has supported thousands of independent retailers in times of crisis. In addition, due to the absence of trade fairs, brands get the opportunity to create new business relationships and benefit from a guaranteed payout on every order.
“The majority of the investment will be used to increase our international footprint, improve the digital purchasing experience, and further develop our powerful technology including machine learning and integrations with commerce systems,” said co-founder and CEO Joost Brugmans. “Our retailers visit our platform several times a week to source unique products for their store or webshop. That is why we pursue adding dozens of new brands daily rather than weekly, which retailers can purchase quickly and easily. Based on previous sales data of tens of thousands of retailers, we can better predict whether a product will sell in that particular store. This way, our stores can continue to stand out from the crowd and strengthen local retail.”
“Prime Ventures is a European leader in the venture capital scene with lots of experience and a fantastic team. Through their previous investments, they are experts in marketplaces (JustEat-TakeAway.com), e-commerce (Greetz) and fintech (iWoca) – and exactly this combination convinced us to work together to become a global leader within our category,” added Brugmans.
According to Thijs Emondts of Prime Ventures, Orderchamp has a significant role in further digitising retail. “Traditional wholesale is very fragmented and not very innovative. Through its superior technology, such as data-driven recommendations, a unique assortment and a smart go-to-market strategy, Orderchamp offers both retailers and brands a unique customer experience. We are very impressed with Orderchamp’s team, its explosive growth and high customer retention. Orderchamp solves a big problem for both customer groups. I look forward to our collaboration as they further strengthen their position in Europe and lead the digital revolution in procurement.”
The Amsterdam-based scale-up offers a unique and high-quality assortment of more than 200,000 products from over 1,800 different European brands, including Home & Living, Kitchen & Dining, Baby & Kids, Stationery, Jewelry & Accessories, Food & Beverage and Beauty & Health.
Orderchamp only collaborates with brands that meet specific quality criteria, meaning that many share values and characteristics such as being handmade, natural, sustainable or ethical. On the side of the retailer, algorithms tailor recommendations with the right brands and products. This way, the platform strengthens local retailers and online retailers and helps them expand their product portfolio. The assortment is continuously being expanded and currently includes brands such as Marie-Stella-Maris, BergHOFF, Blomus, Return to Sender, Meyco Baby and Hoff Interieur.
Orderchamp was founded in 2019 by Joost Brugmans (CEO), Max Verduyn (CFO / COO) and Menno Wolvers (Head of Engineering), Ruud Stelder (investor) and Dennis Cuijpers (investor). In addition to The Netherlands, the platform is also active in Belgium, Germany, France, and Luxembourg and serves various customers from all over Europe.
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
