Software News tagged "Financing"

Multichannel ecommerce system Zentail has announced a $5 million Series A round of funding led by Initialized Capital.

"Our mission at Zentail is to make e-commerce simple and for our clients to realize extreme value when using Zentail's software," said Daniel Sugarman, Zentail CEO. "As we continue to move up market and service larger customers, Zentail is being recognized as a valuable tool to manage online businesses by way of the vast product information our platform provides and all of the processes it handles through automation. This Series A investment means Zentail will be able to offer an even higher level of service and value to our clients as we more aggressively pursue our ambitious product roadmap through hiring to expedite new integrations and features."

In 2018, Zentail gained substantial momentum in the industry, approaching $1 billion in GMV. In Q3 of 2018, the company also integrated with new marketplaces, rounding out its marketplace and webstore integrations to include Amazon, eBay, Google, Facebook, Walmart, Wish, Jet, Shopify, BigCommerce and Magento. Leading into this funding round, Zentail doubled its team and office space and solidified its senior ranks with the addition of Paul Capriolo as Director of Growth and Pauline Shiu as Director of Marketing.

Zentail is headquartered out of Columbia, MD and celebrated its third anniversary in August. Their team currently consists of more than 25 staff across engineering, operations, sales and marketing.

Source: Zentail

Marketplace management tool Expandly has closed a funding round totalling over half a million U.K. pounds.

The round was led by Mercia Fund Managers. It includes £250k from the MEIF Proof of Concept & Early Stage Fund which is managed by Mercia for the Midlands Engine Investment Fund, £250k from Mercia's EIS Fund and the remainder from angel investors.

The company intends to use the funds, creating five new jobs, to develop the sales and marketing teams, advance the product and accelerate growth.

Founded in 2013 by CEO Alan Wilson, Expandly makes it more accessible for retailers to sell on different marketplaces such as eBay, Amazon and Etsy by providing a central platform where they can manage all their product listings and inventory, and process and fulfil orders.

The company – chaired by the former CEO of Tesco Direct, Steve Robinson – was recently selected by Microsoft for its program to support startups and the software will be sold via some Microsoft resellers.

Source: FinSMEs

Cash flow accelerator Payability has launched the Payability Seller Visa Card, giving ecommerce sellers faster access to their marketplace payouts.

Sellers can use the new card to replenish inventory, buy advertising, and take advantage of new product opportunities.

"Reliable access to capital is a challenge for most marketplace sellers. Most are small businesses that aren't operating with huge amounts of working capital to draw on, and a weeks-long delay in getting payment can be crippling," said Keith Smith, CEO of Payability. "Our customers rely on us to help them get their money faster, and the Seller Card is the next step in meeting the evolving needs of these digital merchants who are continually shaping the face of eCommerce."

In addition to providing access to cash on a daily basis, the Payability Seller Visa Card rewards marketplace sellers with up to 2 percent cash back on purchases made on their pre-funded card which can be used online or in-person wherever Visa is accepted. Payability has also negotiated exclusive cash back deals of up to 20 percent off from companies that can help sellers grow their ecommerce businesses.

The new card, powered by open-API platform Marqeta, allows sellers to easily tap their cash flow, reinvest in their businesses and accelerate growth all with the convenience and ease-of-use of an everyday payment card.

Payability's financing platform has provided more than $1 billion in accelerated payments to startups since 2016. With better cash flow, customers have seen their monthly sales grow an average of 86 percent in the first six months of using the platform.

"Injecting more than $1 billion worth of capital into our sellers' businesses is a huge milestone for Payability. More importantly, though, it means we've made it possible for tens of thousands of small businesses to quickly scale, purchase more inventory, drive customer acquisition and, ultimately, turn their hard work into hard-earned success," said Smith.

Source: PR Newswire

Two major new updates for Payability have been covered on the Web Retailer blog.

The new Instant Advance service provides ecommerce sellers with a big cash injection quickly to help grow sales.

Payability has also expanded beyond Amazon, and now supports 15 marketplaces and shopping carts in total.

Read Payability Takes Off With Instant Advance and Multiple Marketplace Support

Source: Web Retailer Blog

Online lender SellersFunding are the focus of a new article on the Web Retailer Blog.

The article looks at how borrowing can help Amazon sellers, the SellersFunding algorithm, different financing options, the application process and repayments, and the company's future plans.

Source: Web Retailer In Depth

Multichannel ecommerce solution Volo has raised £6.2 million to expand its business into North America and across other international sales channels.

"Our mission continues to be ‘to make selling online as easy as buying online.' Through simplifying the selling process and adding valuable analytics our customers continuously outperform the market and typically grow their business by 100% or more by their third year with Volo. This investment will enable us to help more businesses grow and accelerate our international expansion whilst continuing to innovate across the platform", said Paul Watson, CEO of Volo Commerce.

The funding round was led by NVM Private Equity with participation from funds managed by Downing LLP.

"The growth in multichannel e-commerce continues to accelerate and is a huge opportunity but also a complex challenge for most businesses. Volo has built a platform that removes much of this complexity with a revenue model that aligns with its customers to drive growth" said NVM Private Equity Investment Director Charlie Winward. "We look forward to partnering with Volo as Paul and the team bring their solution and expertise to new customers."

Volo Commerce enables brands and retailers to maximise the opportunity of multichannel commerce. By deploying Volo's software platform, customers are able to efficiently and rapidly grow their e-commerce business by accessing leading marketplaces such as Amazon, eBay and Walmart, and automating all aspects of the selling process.

Source: Volo

Lending platform Bitbond has received a commitment from Obotritia Capital to fund loans worth €5 million through its platform.

With the debt commitment, SME loans from European prime borrowers will be funded instantly on Bitbond, reducing the time it takes for business owners to apply and receive a loan to 30 minutes.

Obotritia also invested an undisclosed amount of equity to acquire a stake in Bitbond. The investment will be used by Bitbond for further product development and marketing. Bitbond plans to continue growing its user base with online sellers and small businesses who need working capital financing.

Over 1,700 loans worth €1.4 million were originated through Bitbond since its launch in 2013. 90,000 users from 120 countries have registered with the service to date.

Founder & CEO of Bitbond Radoslav Albrecht said: "The debt commitment by Obotritia brings Bitbond to the next level in our efforts to provide universal SME financing. The next step is to work with partners. Such partners could be online marketplaces who want to add value to their platforms by giving their merchants access to instant cash through Bitbond."

Most of the platform's borrowers are online sellers who run their shops on e-commerce marketplaces like eBay, Amazon or Etsy.

Source: Bitbond

Small business and ecommerce loans specialist Bitbond is joining forces with African payment services provider BitPesa.

Bitbond, based in Berlin, Germany, connects investors with small business owners who need loans, using bitcoin for payment processing to make cross-border lending possible.

By working with BitPesa, borrowers who receive funding on Bitbond can now have their loan paid out directly to a mobile device or bank account. The integration between Bitbond and BitPesa is now live in Kenya, Nigeria, Uganda and Tanzania.

Founder and CEO of Bitbond Radoslav Albrecht said: "10% of our global user base comes from Sub-Saharan Africa. We are excited to work with BitPesa in this region because there is a huge unmet demand for small business financing. Together with BitPesa, we can significantly improve our service. This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes. This is an unprecedented level of innovation and convenience in the entire online lending space."

Bitbond is the first global marketplace lending platform for small business loans, with users from over 120 countries.

Source: Bitbond

Peer-to-peer lending platform Bitbond has closed a funding round of $1.2 million, bringing the company's total raised capital to $2.3 million.

Bitbond will use the additional funds for product development and growing its user base in markets which are underserved by traditional lenders

Founder & CEO of Bitbond Radoslav Albrecht said: "The additional resources will help us to continue realizing our mission which is to make lending and borrowing globally accessible. We are happy to have such experienced investors supporting us on this exciting journey."

Over 1,600 loans worth $1.2 million have been originated on Bitbond since its launch. 76,000 users from 120 countries are registered with the service. In October 2016 Bitbond received their own regulatory licence from German financial services regulator BaFin. This makes the service the only regulated blockchain-based financial services provider in the world.

Bitbond, based in Berlin, connects investors looking for above average fixed-income investment opportunities, with small business owners who need a loan. To make global cross-border lending possible, the platform uses bitcoin for payment processing.

Source: Bitbond

Intelligence Node, the company behind competitor-tracking tool Incompetitor has received an investment of $750,000 from a Mumbai-based financing firm.

"Intelligence Node has some great aspirations in reaching out to blue-chip MNC's in global retail. The utility for our technology and products is immense and with the help of venture debt provided by BlackSoil our business has got optimum fuel to run and grow faster in this industry," said Sanjeev Sularia, CEO and Co-founder of Intelligence Node.

"We found the products, the technology, the founders and the utility of Intelligence Node very impressive and path-breaking. The company has strong client traction coupled with zero client churn. We have great hopes from the company and wish the team all the luck for its future endeavours," said Ankur Bansal, Director, BlackSoil Capital Private Limited.

Launched in 2012, Intelligence Node is a big data company specialising in pricing intelligence for the retail industry, delivering insights from its database of 1 billion unique products across 130,000+ brands and 1100+ categories.

Source: ResponseSource

Small business and ecommerce loans specialist Bitbond is now regulated by German financial regulator BaFin.

Bitbond is the first Bitcoin-based financial services provider to be licensed by BaFin.

Radoslav Albrecht, founder and CEO of Bitbond, said, "Our own licence helps us to fulfill our mission which is to make financing and investing globally accessible. This provides us with a significant efficiency advantage. Other Fintech startups normally rent a licence and by that are bound regionally. We are proud to be one of the first regulated financial services providers in the entire blockchain space."

Bitbond has users from over 120 countries and has originated over 1,400 loans to date. Most of the platform's borrowers are online sellers who sell on sites like eBay or Amazon. Bitbond conducts credit checks based on the revenue data of the merchants.

Germany is one of the few countries where there is a clear regulatory framework for blockchain (e.g. Bitcoin) based services.

Source: Bitbond

Payment acceleration service Payability has introduced a new service called Payability Instant Access.

Payability Instant Access is designed to give Amazon Sellers next-day access to their sales revenue.

Payability has been working with Amazon Vendors to accelerate payments on their purchase orders from Amazon, from a standard 30 to 90 days payment cycle to automated weekly payments.

Although Amazon Sellers are paid within weeks rather than months, Payability can enable next-day payments providing near-immediate access to the cash from their sales.

Faster payouts enable sellers to reinvest their sales into more inventory, more quickly.

Source: Payability

Multi-carrier shipping system Shippo has completed a new round of funding, led by Union Square Ventures.

The investment of $7 million will be used to scale the company, further developing the technology and onboarding more carriers.

Developers can use the Shippo API to connect to a network of shipping providers and print shipping labels in minutes. Shippo helps businesses compare shipping rates, print discounted shipping labels, and track shipments, with a goal of making shipping easy and affordable for everyone.

Since printing their first shipping label two years ago, Shippo has grown to power over 10,000 businesses, sending millions of packages to (and from) 196 countries around the world.

As well as the API for developers, Shippo provides ready-made integrations for seven different ecommerce platforms including Shopify and BigCommerce, as well as a manual order upload.

Writing on the Shippo blog, founder Laura Behrens Wu said, "Raising this round is really about growing the company. We will be using the money to hire the right team of people with the skills and experience to move us through a period of rapid growth and scaling. With millions of packages sent through Shippo every month, we're able to predict trends and find savings for customers. We want to be able to recommend optimal package dimensions for each business, and suggest carriers and services that works best for their customer set. Our goal is to help everyone ship smarter."

Source: Shippo, VentureBeat

Cash flow solution Payability has partnered with Amazon to provide financing to startups on Amazon's Launchpad program.

Amazon Launchpad launched a year ago, and has worked with over 100 leading venture capital firms, startup accelerators, and crowd-funding platforms to help more than 1,000 startups launch products in the US, UK, China, Germany, and France.

Payability enables faster payments for startups selling to large retailers like Amazon.

Source: Payability

Small business loans company Kabbage has partnered with Scotiabank in Canada and Mexico to begin offering loans to businesses in those countries.

Scotiabank customers in Canada and Mexico will be able to apply for and access small business loans up to $100,000 within minutes. The partnership will provide fully automated onboarding, underwriting, servicing and ongoing monitoring throughout.

The new lending program will have a phased approach, beginning by offering the service to more than 100,000 Scotiabank small business customers who do not currently have a loan from them. Scotiabank Canada customers will be able to apply for a Kabbage loan from July 2016, and Scotiabank Mexico customers will be able to apply from August 2016.

Small businesses represent 97.9% of Canada's employer businesses, employing more than 8.2 million Canadians. Over 90% of the 5 million enterprises in Mexico are small businesses.

Scotiabank will offer the new small business lending program through bank branches and its websites, with the application, decision-making and ongoing monitoring all powered by Kabbage.

Source: Kabbage

Ecommerce platform BigCommerce has received an additional $30 million in investment.

Brent Bellm, CEO of BigCommerce, said, "BigCommerce is benefitting from the retail industry shifting online, with every small, mid-sized and large merchant in the world seeking to gain a piece of the $1 trillion ecommerce market. This new financing follows on the successful launch of several new products, our partnerships with major players in ecommerce like eBay and Square, and our successful expansion into the midmarket."

The round of funding was led by GGV Capital with participation from existing investors including General Catalyst, Revolution Growth, SoftBank Capital, Tenaya, Split Rock, Telstra Ventures and American Express Ventures.

Source: BigCommerce

Currency exchange service World First has a new partnership with leading French marketplace Cdiscount.

World First is now integrated into Cdiscount's seller portal and registration process, to ensure that thousands of new and existing international sellers trading on the Cdiscount marketplace can take advantage of World First's service.

World First offers free Euro receiving accounts so merchants can collect marketplace revenue in the local currency, then transfer their earnings back home through World First at a better exchange rate than conventional international bank transfers.

Head of Partnership Sales (EMEA) at World First Luke Trayfoot said, "With a growing number of international online sellers signing up for Cdiscount, a viable solution to repatriate their revenues is paramount to the success of their marketplace growth plans. At World First, it is our mission to get as many of our sellers on marketplaces that work for their business, and our partnership with Cdiscount will help us to engage with our audience in more ways than one.

Source: World First

Small business loans provider Kabbage has partnered with competitors OnDeck and CAN Capital to launch a new trade association for lenders, and price comparison tools for borrowers.

The Innovative Lending Platform Association will provide a framework for small business lenders to collaborate on pricing and fee disclosures.

The Association's SMART Box initiative provides small businesses with pricing comparison tools and explanations to help borrowers make like-for-like loan comparisons.

Kabbage, OnDeck and CAN Capital are the largest online small business lending platforms in the United States, responsible for more than $12 billion in funding.

Source: Kabbage

Ecommerce platform Shopify has launched a new financing scheme called "Shopify Capital".

Shopify Capital provides cash advances to ecommerce merchants in the United States, to help them accelerate their business growth.

"For many merchants, securing capital is a frustrating and time-consuming process," said Saad Atieque, Product Manager at Shopify. "With Shopify Capital, we're giving entrepreneurs a simple, fast, and convenient way to secure financing to invest in their business. Similar to our payments and shipping solutions, Shopify Capital represents one more way Shopify can help entrepreneurs strengthen their business operations."

During a pilot program, merchants used Shopify Capital cash advances to buy equipment and inventory, launch new products, hire more employees, and add new channels and products.

"Shopify Capital allowed us to invest in our own company without having to borrow money from friends or raise funds from investors, possibly giving up some equity," said William Sulinski, founder of Pistol Lake. "Working with Shopify for our financing needs was a no-brainer because we've trusted them with our business for over three years as our commerce platform -- the core of our business -- and they've been the best partner we could have asked for."

Source: Shopify

eBay listing tool CrazyLister has raised $600,000 of venture capital investment from Altair VC.

CrazyLister has now hired a new development team, and relocated from Haifa to Tel Aviv.

Development plans include:

  • A "mobile view" editor giving control of how listings will look on mobile devices.
  • Integration with eBay so users can list and revise listings directly from CrazyLister.
  • Educational videos to help grow eBay sales.
  • Expanding CrazyLister beyond eBay.

CrazyLister is used by 27,000 sellers from more than 100 countries, who have created over 2 million listings using the tool.

Source: CrazyLister

European ecommerce loans specialist iwoca has been named Commercial Finance Provider of the Year by The Chartered Institute of Credit Management.

Recent product developments at iwoca have included:

  • Extending the maximum credit limit to £100,000 (from £50,000).
  • Increasing the maximum loan term to 12 months (from 6 months).
  • Launching a "Credit-as-a-Service" platform with strategic partners such as Alibaba.
  • Expanding their international footprint with the launch of iwoca Germany.

Last year, iwoca was named the Alternative Lender of the Year by Credit Today.

Source: iwoca

Marketplace feedback aggregation tool eRated has raised $1.7 million of new funding.

eRated co-founder and CEO Boaz Cohen told Techcrunch, "eRated's solution enables marketplaces to leverage existing web profiles, building their online businesses faster and more profitably. By evaluating web-wide parameters like their sales performance, customer satisfaction (reviews and ratings) and their social graph, the solution cuts out inefficiencies onboarding and verifying new sellers".

eRated allows online marketplaces sellers to create a single profile that consolidates feedback from all the marketplaces they use. The company says that 90 per cent of sellers are active on more than one marketplace, but cannot share their feedback between them.

"eRated's customers are online marketplaces," said Cohen. "eRated helps these platforms smarter on-board and verify new users and better capitalize their existing ones to maximise profits. Up until now, these platforms treated all new users the same, even though many are already performing extremely well on other platforms."

Source: Techcrunch

Multichannel ecommerce technology company Brightpearl has raised $11 million of new investment, bringing the total funding raised to $30.5 million.

Brightpearl is using the funding to accelerate the growth of its sales and marketing organization in San Francisco, to further scale its engineering, service and support teams, and to continually deliver value to more than 1,400 customers in 30 countries.

Brightpearl executive chairman Charles Grimsdale said, "Our customers continuously outperform the market and compete on par with large retailers, and we believe this is testament to the operational efficiencies that Brightpearl helps them deliver. Our customers sell globally on multiple channels both online and offline. They are highly innovative, and we are delighted that Brightpearl helps them to grow faster and achieve greater operational efficiencies."

The funding includes investors Eden Ventures, MMC Ventures, and Notion Capital, and a loan from Silicon Valley Bank and Columbia Lake Partners.

Brightpearl was profiled in depth on Web Retailer this month: The World Is Their Oyster: An Interview with Brightpearl's James Scott.

Source: Brightpearl

Amazon marketplace repricing and analytics software company Feedvisor has received $5 million of new investment.

Feedvisor has closed a $5 million venture funding round led by Square Peg Capital. This latest investment follows the $6M Series A funding in August 2014 and brings Feedvisor's total raised capital to date to $13 million. The round also included participation from existing investors, JAL Ventures and Titanium Investments. The company will use this capital to continue accelerating growth and global business expansion, including opening offices in the US.

"For retailers to stay relevant in today's market, there is an urgent need to adopt a dynamic pricing strategy that reflects ongoing changes in market conditions and the competitive environment," said Victor Rosenman, CEO and Founder of Tel-Aviv based Feedvisor. "Consumers are far more sophisticated, prices more transparent, and online retailers simply cannot sit still and wait."

Feedvisor is used by hundreds of online retailers worldwide to manage over $1.5 billion in gross merchandise volume.

Source: Feedvisor

UK small business loans company iwoca has signed a deal with the European Investment Fund to provide £40m in funding to 3,000 small businesses.

The scheme will also guarantee loans, and help iwoca lend to more businesses at lower rates.

iwoca CFO Michael Elalouf commented, "This agreement between iwoca and the EIF is a boon for the millions of SMEs who critically need access to finance. These businesses are the lifeblood of our economy and have been underserved by traditional finance providers. We believe this partnership represents a genuine endorsement of iwoca's strategy and innovative technology platform. We look forward to expanding our relationship in the future to further meet the needs of SMEs across Europe."

Source: iwoca

Ecommerce loans specialist Bitbond has added an integration with Latin American marketplace MercadoLibre.

On Bitbond, sellers can now connect their MercadoLibre account to show their creditworthiness, and improve their rating on the site based on positive feedback received from buyers.

Active marketplace seller accounts are the best way to see if a borrower on Bitbond runs a successful business.

Source: Bitbond

American small business loans company Kabbage has joined up with Dutch bank ING to offer loans to businesses in Spain.

The news follows Kabbage's latest round of funding, which saw investment from ING along with private investment firm Reverence Capital Partners, and fellow banks Santander and Scotiabank.

Ralph Hamers, Chief Executive Officer of ING, said, "This partnership shows we are dedicated to creating a differentiated customer experience. Kabbage's automated loan application and approval process is both accelerated and simple for customers. This initiative perfectly fits our strategic priority to increase the pace of innovation."

ING, one of the 20 largest banks in the world, is the first global bank to leverage the Kabbage Platform.

Source: Kabbage

Marketplace management tool Stitch has received $15 million of Series B investment.

Writing on the Stitch Labs blog, CEO Brandon Levey said, "Three of us started this company five years ago and growing to 60+ employees today is quite an accomplishment, but albeit not necessarily hero-worthy. Creating a product that redefines the way people think about their businesses is incredibly valuable, but we aren't flying around boasting just yet."

Source: Stitch Labs

Small business loans company Kabbage has received additional funding of $135 million from private investment firm Reverence Capital Partners, and banks including ING, Santander, and Scotiabank.

With the new funding, Kabbage intends to scale their lending platform and offer funding to more small businesses.

This year they have partnered with companies including MasterCard, Experian and UPS to expand the reach of Kabbage data, and launched the "Kabbage Card" to give customers greater flexibility. They were also named to Forbes magazine's 2015 list of America's Most Promising Companies and ranked 36th fastest-growing company on the Inc. 500 list.

Kabbage has now raised total equity of over $240 million to date, and expanded its credit facility to more than $900 million. The company now provides over $1 billion annually to small businesses and consumers, just four years after its launch.

"We are thrilled to announce our partnership with Reverence Capital Partners, ING, Santander InnoVentures, and Scotiabank, global leaders with deep expertise across financial services and technology," said Rob Frohwein, Kabbage co-founder and Chief Executive Officer. "It is particularly gratifying to welcome three of the top fifty global banks to our shareholder base as we continue to expand our reach internationally, delivering an unparalleled experience to small businesses and consumers worldwide."

Source: Kabbage

Channel marketing software company Lengow has raised €10 million of new investment.

The new funds will be used to accelerate the company's international growth and customer acquisition.

The backing represents the biggest ever round of funding for a European company in the sector, says Lengow. The company's customers include L'Oreal,, Mango, The North Face, Pepe Jeans and Vans. Expansion plans include an increased presence in the UK and Germany through strategic acquisitions and/or organic growth, along with a physical presence in Asia and the United States.

Lengow anticipates that it will double its workforce by the end of 2016 and continue to grow at a rate two to three times higher than previously.

Lengow will release a new version of its solution in autumn, with more power, intuitiveness and increased usability.

Mickael Froger, co-founder and CEO of Lengow, said, "Our aim is to shake up the way the world shops and sells. Lengow is not just becoming a global leader in online sales, we are changing the rules. As demonstrated by Lengow's remarkable growth and widespread adoption, we are fuelling the businesses and ways of working of the future. This investment by Serena Capital, BPI and Alven will help Lengow to capitalise on global demand for our solution, allowing us to expand more quickly in key markets like the UK, innovate rapidly, and deliver on our vision of the world."

Source: Lengow

Ecommerce management software SalesWarp has received $3.5 million in a Series A round of investment.

SalesWarp will use the proceeds to expand sales of its SaaS and Enterprise products by growing its sales, marketing, engineering, and client implementation teams. The company also plans to expand its partner relationships.

"SalesWarp is a disruptive product that offers retailers an easy way to improve both sales and profit margins," said David Potts, Founder and CEO of SalesWarp. "The combination of this new capital and experienced investors is helping us quickly grow the organization to meet the demands of our growing SaaS client base and expand our product line to serve more of the SMB market."

Source: SalesWarp

Ecommerce loans specialist iwoca has raised $20 million of new funding from investors.

iwoca will use the new capital to improve their product and expand to more businesses across Europe.

iwoca has increased their maximum credit limit to £100,000 and lengthened their maximum loan term to 12 months.

Since their last funding round in January 2014 iwoca has made loans to thousands of businesses across four countries and grown to a team of 80.

Source: iwoca

Inventory and order management tool TradeGecko has completed a round of investment, and also integrated with ecommerce platform Bigcommerce.

TradeGecko's Series A funding round reached a total of $6.5M.

TradeGecko was started in Singapore nearly three years ago by three entrepreneurs from New Zealand. It now has nearly 60 employees, customers from 100 countries, and a gross merchandise volume to date of $1B.

TradeGecko has also created a new add-on for cloud-based ecommerce platform Bigcommerce. The TradeGecko inventory management add-on automatically updates inventory and stock levels, helping to eliminate overselling and stock-outs.

Source: TradeGecko for Funding Round and Bigcommerce Integration

Ecommerce business loans company iwoca has won the Credit Today award for Alternative Lender of the Year.

iwoca were named Alternative Lender of the Year (Commercial), and were also nominated for Best Use of Technology (Credit information & Decisioning) and Commercial Credit Team of the Year (Financial Services).

Source: iwoca

UK ecommerce loans company iwoca has expanded into Germany.

German businesses can now access funding through iwoca, and will be able to borrow up to €50,000. The credit will be financed by German online bank Fidor, due to German lending regulations.

Alternative finance grew by 113% in Germany last year, and 40% of small Germany companies have had finance rejected.

Source: iwoca

UK small business loans company ezbob, along with sister company Everline, has received £30 million in financing from Oaktree Capital Management.

Tomer Guriel, CEO of Everline and ezbob, said: "I'm proud that Oaktree has chosen our company as their first business e-lending investment in Europe. We look forward to partnering with Oaktree to continue developing and growing our business; we have already provided 6,000 loans to small and medium-sized enterprises and are growing in excess of 200 per cent per annum."

The investment, in the form of convertible debt, will provide additional capital to allow Everline and ezbob to refinance existing debt and accelerate growth. ezbob acquired Everline in February 2015 to create the UK's biggest business e-lender.

Source: FStech

UK ecommerce financing company iwoca has entered into a partnership with China's

iwoca and Alibaba have developed a new trade finance solution called e-Credit line.

e-Credit line allows small businesses to finance orders from suppliers in China, placed through Alibaba, including the deposit payment. Applying for an e-Credit Line is a simple process and covers loans up to £50,000. Loans have an eight-month term and can be repaid early.

Source: iwoca

The company behind ecommerce accounting connector eCC, Webgility, has raised $2.5M in new investment.

Webgility will use the funds to increase headcount, ramp up product development, and expand into new vertical markets.

"This funding from SaaS Capital will be instrumental as we continue to build momentum," said Parag Mamnani, Founder and CEO of Webgility. "This is our first institutional investment and although we received several outside funding offers, we knew SaaS Capital was the best fit for us at this stage. Working with SaaS Capital we're able to avoid both the strict requirements of traditional bank financing and the ownership dilution that comes with an equity investor."

San Francisco-based Webgility, which has bootstrapped since launching in 2007, is focused on making it easy for online sellers to automate their accounting.

Source: Business Wire

UK ecommerce business loans provider iwoca has a new platform enabling brokers to apply for loans on behalf of businesses.

The new interface allows financial brokers to submit applications within five minutes through a personalised dashboard, and track previous applications and approvals.

iwoca's head of Broker Sales, Pervin Govender, said, "Demand for alternative business funding is growing on a daily basis and iwoca's new broker portal gives brokers the opportunity to benefit. By offering them direct access to our platform, we speed up the process of submitting applications and can offer their clients funding within hours. As a former broker myself, I know how important this can be."

Source: iwoca

Ecommerce platform Volusion has raised an additional $55 million in venture capital funding.

The financing was led by Main Street Capital Corporation, and the funds will be used mainly for the development of the company's enterprise platform Mozu, which launched in January 2014.

"Supporting Volusion's vision as they generate significant growth with the Mozu platform is a natural fit for us," said Dwayne Hyzak, Chief Operating Officer and Senior Managing Director of Main Street Capital Corporation, and recently added member of Volusion's Board. "Not only do we look forward to Mozu creating even more waves in the enterprise ecommerce space, but we are very excited about the opportunity to expand Volusion's proven model of success and profitability."

The funds will also be used to further develop the Volusion SMB ecommerce platform, including a new administrative interface and sophisticated theme engine to be released later this year.

"This funding is a major milestone in taking our organization to the next level as we move toward an IPO," said Olivier. "We now have the additional capital injection needed to further disrupt the industry by widely expanding Mozu's modern technology while also better serving the small–and-medium-sized business community with Volusion. We couldn't be more excited about the opportunities in front of us."

Source: PRWeb

UK ecommerce loans specialist ezbob has raised their maximum loan amount from £50,000 to £120,000, and maximum repayment period from 12 months to 15 months.

Ezbob told Tamebay, "We are delighted to be able to make this big step forward. In 2014 we successfully launched what is still a revolutionary online process for commercial lending. Having had time to study how our loan book has performed, we now want to build on that experience and offer larger loans with a slightly longer term".

ezbob recently joined the Better Business Finance scheme to help UK SMEs find funding for their businesses.

Source: Tamebay

Ecommerce loans specialist iwoca has launched its financing services for online retailers based in Spain.

Christoph Rieche, iwoca's CEO and co-founder, commented: "Traditional small business lending models are broken and are holding back the global economy. Access to finance for Spanish SMEs is significantly below the EU average, so it was the natural market for our latest launch. With hundreds of businesses having already expressed interest in iwoca Spain, it looks set to mirror the success of our Polish operations, which launched in February 2014 and grew even faster than the UK business."

Since 2012, iwoca has lent almost £30 million across 5,000 transactions in the UK and Poland, so therefore the launch of iwoca Spain is further evidence of the growing global need for alternatives to traditional business finance providers.

Source: EU Startups

Inventory and marketplace management tool Ecomdash has received an investment from private merchant bank Gemini Southern.

Nick Maglosky, Chief Executive Officer of Ecomdash, stated, "We are very excited about the partnership with Gemini Southern and the ecommerce industry relationships it has already fostered."

Capital received from Gemini Southern is part of a larger financing the company expects to close towards the end of 2014. The company plans to use the capital for software development and partner API integrations, including new financial and supply chain support.

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Ecomdash has also released support for the Newegg marketplace.

"Connecting our technology with Newegg and is part of our continued effort to provide efficient ecommerce automation software to a growing market." said Chief Operating Engineer Darrin Kidd.

Source: Ecomdash

Ecommerce platform Upshot Commerce has partnered with financing company Affirm so Upshot sellers can provide the option to pay in monthly installments.

Affirm offers consumers savings compared to traditional credit cards and loans, and for sellers increases conversion rate and order values.

"Many critical purchases just make no sense for revolving credit and may be out of reach for many Millennials, who primarily use debit cards, are not interested in traditional credit, or may not have a credit score at all," said Affirm founder Max Levchin. "We price every loan to the transaction, to the person, and to the merchant. No compounding interest. So consumers know exactly what they're borrowing and what their payment will be each month."

Source: Upshot Commerce

UK ecommerce loans specialist ezbob is now listed as a lender in the Better Business Finance directory run by the British Bankers' Association.

ezbob CEO Tomer Guriel said, "We are happy to be part of Better Business Finance and hope business owners will now discover they have more options for their funding. With ezbob’s simple application process and 1 hour funding approval for loans up to £50,000, receiving an SME loan has never been easier."

Better Business Finance was set up by Barclay’s HSBC, RBS, Lloyds, and Santander to help UK SMEs find funding for their business by having a informational web site listing many different funding options, including the traditional banks, alternative lenders and now ezbob business loans.

ezbob are also in partnership talks with UK high street banks to become their SME alternative lending partner, similar to the partnership between Santander and Funding Circle.

Source: ezbob

Ecommerce loans provider PayPal Working Capital has announced that it will begin offering financing to UK sellers later this year.

Tamebay reported Cameron McLean, Managing Director of PayPal UK, as saying "Small businesses are the lifeblood of the British economy. But seven years after the start of the credit crunch, many of them are still struggling to get funding. According to the British government, around a third of SMEs rely on retained earnings or the owner’s own finances rather than bank or equity funding. This means that many find it very difficult to finance their present needs or future growth. And the problem is acute for smaller, online businesses".

Source: Tamebay

Tom Singh, the founder of clothing chain New Look, has invested in ecommerce channel management software provider Veeqo.

Singh said: "Retailing is a difficult business in the best of times. The multi-channel world we live in now demands efficiency, accuracy and real time information.  Veeqo is the answer for small and mid-size retailers because it helps a business compete, enables margin management across multi platforms and transforms offline retailers to multi-channel businesses."

The new investment brings Veeqo's total invested capital to £375,000 ($600,000). The company, based in Wales, is currently looking for a software engineer and a marketing assistant.

Source: Veeqo

Ecommerce loans company iwoca is now offering financing for annual subscriptions to the Linnworks multichannel management software.

Limited companies selling through Linnworks can switch to an annual Linnworks contract and pay monthly with iwoca to save between 15% and 35% on the normal monthly rates.

US ecommerce loans specialist Kabbage is now offering loans to all businesses, including online, bricks-and-mortar, and services businesses.

As part of the expansion, Kabbage has raised its maximum loan from $50,000 to $100,000, and added a new community centre with tips and videos to its website.

"When we launched Kabbage, our vision was to make the funding process simple, automated, and accessible to every small business," said Kathryn Petralia, Kabbage, Co-Founder and COO. "Today is a pivotal day for Kabbage and for small businesses as we significantly expand the availability of funding to tens of millions of small businesses, regardless of their business type or where they operate."

Ecommerce loans specialist iwoca has raised a further £5 million of funding from investors.

The cash will be used to lend to as many as 5,000 more small businesses in the UK, and expand into Europe.

iwoca CEO and co-founder Christoph Rieche said "We are still at the beginning of our journey, there are more than 4.6 million businesses in the UK and ecommerce is experiencing double digit growth. This latest round of funding will allow us to leverage our existing operations and drive growth. Our highly innovative approach to data-analysis and credit scoring coupled with Oliver Samwer’s experience in franchise building puts us in an incredibly strong position to take advantage of the structural change within the business lending industry."

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