The AI-enabled e-commerce operating system, which supports digital brands in scaling their business across e-commerce marketplaces, adds Notion Capital, Kima Ventures, and Motier Ventures to the roster of new investors, taking its total funding to €2.6m. Among other things, the funds will be used to facilitate their US expansion.
Founded as Gonuggets in 2022, MarketLeap has quickly established itself as a force to be reckoned with in the rapidly expanding e-commerce space. Having already raised €1.1m in 2022, the Luxembourg startup has just announced an additional €1.5M in seed funding with a range of new investors keen to join the growing business.
With the newly secured funding, MarketLeap aims to ‘democratise e-commerce’, support brands in growing their revenues faster across global marketplaces, and facilitate expansion into the US while scaling their UK operations.
“Currently, most brands reach only 0.2% of their total marketplace potential due to a lack of expertise, time, and money. They end up spending over 70% of their time managing their marketplace operations, accounting for less than 20% of their total revenue,” explains Mamoun Benkirane, CEO and co-founder of MarketLeap.
Explosive e-commerce growth
As the e-commerce sector continues to grow – reports estimate that third-party online marketplaces will account for 59% of global e-commerce sales transactions by 2027 – brands will be well served with solutions such as MarketLeap’s.
Their current clients, which count Danish watchmaker Nordgreen and Swedish audio product manufacturer Defunc, among others, have seen an average of 4x revenue growth within the first month of operations. The latter has been facilitated by the platform’s ability to actively identify the strongest growth opportunities and implement strategic actions to drive brand development.
“Our platform is integrated with several partners, including 3PLs and finance service providers to manage all the operational complexities while continuously supporting our partner brands as they scale up,” said Mekki Mouaddeb, COO and co-founder of MarketLeap.
Strong tech foundations
While many other e-commerce players ostensibly focus on the rapid growth of decelerating brands, MarketLeaps puts the technological foundations of its platform first, helping it escape tech debt and inefficiencies in the long run.
“This new funding round will allow us to speed up our rich feature suite while expanding even faster into new channels and countries. Our aim is to build a complete new layer of tech infrastructure that seamlessly connects thousands of brands to hundreds of marketplaces,” concludes Mamoun Benkirane.