Glopal, a Paris, France-based provider of cross-border e-commerce solutions, raised €20 million in Series A funding to accelerate its growth and expansion.
The round was led by Hi Inov, with participation from previous investors, including Seventure and Axeleo Capital, along with industry experts like Motier Venture (the family office of Galerie Lafayette owners) and Pierre Denis, the former CEO of Jimmy Choo, who will also be joining the Glopal board.
With this funding round, Glopal will expand its operations in Europe, the United Kingdom, and the United States with a recruitment drive and will also use the funding to further invest in its technology.
Patrick Smarzynski, CEO of Glopal: "In the current economic climate of high inflation, brands are seeking a competitive and cost-effective solution to expand into fast-growing international markets. As cross-border e-commerce solutions are emerging as a unique category with limited competition, our aim is to stay ahead of the curve and continue leading the market as the next generation cross-border sales solution. With this round of funding, we are well-equipped to accelerate our growth and offer innovative solutions that cater to the evolving needs of our clients”.
Glopal provides brands with the ability to increase their sales directly from their e-commerce platform while retaining control of their customer journey and brand.
The company's suite of advanced modular solutions is designed to optimize essential cross-border functions such as translation, international marketing, payments, logistics integration, and tax and duty calculations.
Currently, Glopal has a customer base in more than 100 countries. The startup has already enabled over $400 million in cross-border transactions for users in Europe and North America.
Company: Glopal SAS
Raised: €20.0M
Round: Series A
Funding Month: March 2023
Lead Investors: Hi Inov
Additional Investors: Seventure, Axeleo Capital, Motier Venture, and Pierre Denis
Company Website: https://merchants.glopal.com/
Software Category: Cross-Border E-commerce Solutions
About the Company: Glopal simplifies global expansion for retailers and global brands. The end-to-end SaaS platform offers merchants a modular approach to expand through their existing online store into new international markets. Glopal enables e-commerce stores to consistently achieve 3X growth in international sales through its proprietary AI-driven international marketing, ecommerce translation process automation, duty, and tax and logistics modules. The Company helps global brands navigate the complexities of international expansion while enabling them to fully control the customer experiences. Glopal already powers the international operations of some of the largest global retail brands. The company is headquartered in Paris, with offices and staff across the globe.
Source: https://merchants.glopal.com/en-us/blog/glopal-raises-20m-series-a-funding-to-fuel-cross-border-e-commerce-growth