E-commerce data integration start-up Productsup has raised $20m in funding. The round was led by Nordwind Capital and Deutsche Handelsbank and brings the company’s total funding to date to $45m.
Berlin-based Productsup was founded in 2014 and now provides more than 500 brands, retailers and marketplaces with e-commerce products, including a marketing platform to help clients visualise their product data in real time. Its customers include Farfetch, Superdry, IKEA and Hewlett-Packard.
Last year, the company also launched the Productsup Academy, offering online training and certifications in feed management and syndication.
The start-up will use the new funds to drive product development, scale its sales and marketing initiatives and expand into new markets such as North America.
Johannis Hatt, one of Productsup’s founders and managing directors, said: “When we founded Productsup about 10 years ago, it was clear that the future of retail would be e-commerce. This fuelled creativity and innovation for the industry, but also created obstacles for brands and retailers.
“We help brands and retailers remove the barriers that stifle success in today’s digital landscape, enabling them to easily blend online and offline experiences to drive sales. I’m excited to see how this new capital will further our mission and bring a new era for Productsup employees, partners and customers.”
As part of the investment announced today (30 March), Deutsche Handelsbank provided venture debt in partnership with German bank KfW.
“We are pleased that we have been able to expand the business relationship with Productsup despite strong competition with other international venture debt providers,” Deutsche Handelsbank’s head of growth finance and venture debt, Peer Simon, said.
“Productsup, as a fast-growing SaaS company with strong investors, is the perfect match to Deutsche Handelsbank’s strategy and sought-after target group.”
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