Glopal Secures €20 Million in Funding Round to Support Business Expansion

Glopal Secures €20 Million in Funding Round to Support Business Expansion

Time Stamp: March 30, 2023 6:25 AM
Source Node: 2555297

Glopal, a UK-based e-commerce platform that helps businesses expand their reach globally, has secured €20 million in a funding round led by Kennet Partners. The funding will be used to support the company’s business expansion plans, including the development of new products and services.

Glopal was founded in 2015 and has since helped thousands of businesses expand their e-commerce operations globally. The platform offers a range of services, including international shipping, local payment options, and translation services. This allows businesses to sell their products to customers in different countries without having to worry about the complexities of cross-border trade.

The new funding will enable Glopal to further develop its platform and expand its services. The company plans to invest in new technology, such as machine learning and artificial intelligence, to improve its offerings and make it easier for businesses to expand globally.

“We are thrilled to have secured this funding, which will enable us to accelerate our growth and continue to support businesses looking to expand globally,” said William Johnson, CEO of Glopal. “We believe that there is a huge opportunity for businesses to tap into the global e-commerce market, and we are committed to helping them do so.”

The global e-commerce market is expected to reach $4.9 trillion by 2021, according to Statista. This presents a significant opportunity for businesses looking to expand their reach beyond their domestic markets. However, expanding globally can be challenging, with different regulations, languages, and payment methods to navigate.

Glopal aims to make this process easier by providing a one-stop-shop for businesses looking to expand globally. The platform offers a range of services designed to simplify cross-border trade, including customs clearance, tax compliance, and local customer support.

The company has already helped businesses from a range of industries expand globally, including fashion, beauty, and electronics. Its clients include well-known brands such as ASOS, Boohoo, and Missguided.

Kennet Partners, the lead investor in the funding round, is a growth equity firm that specializes in investing in high-growth technology companies. The firm has a strong track record of investing in successful e-commerce businesses, including Skyscanner and Criteo.

“We are excited to be partnering with Glopal as they continue to grow and expand their services,” said Hillel Zidel, Managing Director at Kennet Partners. “We believe that the company has a unique offering that is well-positioned to capitalize on the growing global e-commerce market.”

In conclusion, Glopal’s latest funding round is a significant milestone for the company and highlights the growing demand for e-commerce platforms that simplify cross-border trade. With the support of Kennet Partners and its other investors, Glopal is well-positioned to continue its growth and help more businesses expand globally.