Fashion cloud is one of the leading solution providers for fashion in B2B eCommerce. The company is a giant in the European fashion wholesale industry. IT raised capital of $26.6M for the future development of the organization.
They announced the news in the press release held on Tuesday (Dec. 13). They said that they would use the capital to accelerate the international expression of their services.
Alies ter Kuile, Founder of Fashion Cloud, said in the release that bands and retailers want an easy and effective way to work together. This investment will go toward providing a better solution and will take the bond with stakeholders to the next level.
According to the release, Fashion Cloud was born in 2015. Since then, more than 600 brands and 20,000 retailers are using the Fashion Cloud B2B eCommerce platform. The company has been growing at an accelerated rate for the last three years.
The software solution solves the problems of inefficiency and fragmentation in the wholesale and retail markets. The company provides digital support with data exchange, content covering, and digital recorders and preorders to B2B Businesses.
The digital solution provides retailers with everything in their hands. It provides an optimized summary, product data, orders, and inventory, to improve the efficiency and workflow in the process.
The company is planning to invest funds in developing new features on the platforms. They are planning to integrate the platform with AI-powered technology to increase storage efficiency. The platform will automatically suggest the required order details, which will help the brands to save on cost.
Verdane, a European specialist growth equity investor, held the fundraising. They specialize in B2B eCommerce tech providers. Their expertise and large hose specialist team also helped Fashion Cloud to close the funding.
Björn Beckman, Verdane Principal, said that digitalization of the wholesale retail business would further help the industry to become more environmentally and economically sustainable. With the support of Verdane, Fashion cloud can now become the leader of the European market.
