Paris, March 27th, 2023
Glopal, the cross-border e-commerce solution, raises €20M to accelerate its growth in Europe and the USA
Glopal, a cross-border e-commerce software solution that enables brands to develop their international sales, has announced a €20 million Series A round of financing from Hi Inov – Dentressangle and Crédit Mutuel Innovation. The historical investors, Seventure and Axeleo Capital, participate in the round, joined by retail experts such as Motier Ventures (Family office of the owners of Galeries Lafayette) and Pierre Denis (former CEO of Jimmy Choo).
A software solution that multiplies international sales by 3 on average
This round of financing aims to support Glopal’s growth and deployment in Europe and the United States, regions in which the company is already present, through the recruitment of new talent. It also aims to continue to invest heavily in its technology to strengthen its competitive edge. The company has developed a fully integrated, plug & play e-commerce software solution that enables it to manage and grow sales for its 250 customers in over 100 countries with immediate and measurable ROI.
Glopal enables brands to grow sales from their own e-commerce sites while maintaining control of their customer data and image. Glopal’s comprehensive portfolio of next-generation modular solutions increases their clients’ global sales by an average of three times by optimizing translation processes, international marketing, international payments, logistics integration, and tax and duty calculations.
Four hundred million cross-border transactions by 2022
Founded in 2020, Glopal works with fast-growing brands known for their high standards of quality and customer service, such as Dior, Balmain, Loewe, and Babolat. The company has already facilitated more than four hundred million dollars in cross-border transactions each year for both American (50%) and European customers.
The company is positioning itself as a transformational player in the e-commerce market, where global retail sales are expected to account for 27% in 2026, according to Morgan Stanley (up from 22% in 2022). Cross-border sales are growing on average twice as fast as domestic sales. Glopal can notably rely on strong technical and commercial partnerships with recognized players such as Google, Meta or Paypal, allowing it to meet the specific needs of each client as well as those of end consumers.
For Patrick Smarzynski, CEO of Glopal: « Today, more than ever in a context of high inflation, brands are looking for a cost-effective solution to deploy on fast-growing international markets. Cross-border e-commerce solutions are becoming a category of their own with few competitors. This round of funding will allow us to stay ahead of the curve as the next-generation cross-border sales solution”.
Valère Rames, Partner at Hi Inov, added: « Glopal is a disruptive solution that has the potential to help thousands of companies develop their international sales in an easier, more flexible and faster way. With its technology, the expertise of an experienced founding team and a real customer ROI already proven with very demanding and renowned brands, Glopal now has the cards in hand to continue its ascent ».
Cyrus Contant, investment director at Crédit Mutuel Innovation, said: « We were seduced by the team’s vision and ability to execute on a project of international scope that meets the challenges of market transformation. Glopal’s mission is part of a major issue for brands, that of giving them back full control of their image and their customer relations through an increasingly efficient experience. We are pleased to contribute to Glopal’s development through this transaction and to provide it with the necessary resources to support its growth ».
Glopal simplifies global expansion for retailers and global brands. The end-to-end SaaS platform offers merchants a modular approach to expand through their existing online store into new international markets. Glopal enables e-commerce stores to consistently achieve 3X growth in international sales through its proprietary AI-driven international marketing, ecommerce translation process automation, duty and tax and logistics modules.The Company helps global brands navigate the complexities of international expansion, while enabling them to fully control the customer experiences. Glopal already powers the international operations of some of the largest global retail brands.
About Crédit Mutuel Innovation
Crédit Mutuel Innovation is the venture capital subsidiary of Crédit Mutuel Equity (€4 billion of capital under management). It makes equity investments of between €1 and €20 million in innovative companies in the digital, life sciences and deeptech sectors. Crédit Mutuel Innovation enables entrepreneurs to develop their growth potential by connecting them to companies in its ecosystems. Because it takes more than 5 years to create a world leader, Crédit Mutuel Innovation invests its own capital on a long-term basis and builds long-term relationships with the entrepreneurs it supports.
For more information: www.creditmutuel-innovation.eu
About Axeleo Capital
Axeleo Capital is an early-stage venture capital company (pre-seed, seed), created in January 2017, which invests in France and Europe on the following themes: Enterprise Software, Cybersecurity, B2B Fintech, Crypto & Web 3.0, Proptech & Construction tech. Axeleo Capital provides a unique framework for early-stage startups, combining equity investments from pre-seed to seed, operational and strategic support through to Series B, and an active ecosystem of over 100 high-level partners and mentors involved in several success stories in France and Europe. Axeleo Capital manages €135M to date in thematic VC funds and has more than 50 investments in its portfolio including Alsid (sold to Tenable), Cloudskiff (sold to Snyk), Jenji (sold to Silae), Aplo, Trustpair, 365Talents, Cumul.io, Joko, Garantme, Beantsock and Check&Visit. For more information: www.axc.vc.
About Seventure Parners
Seventure Partners is a long-term equity investor who actively supports innovative companies aiming at generating positive impacts on Humankind, Society, Sustainability and the Planet. With €900m net commitments under management as of the end of 2021, Seventure is a leading venture capital firm in Europe investing since 1997 in innovative businesses with high growth potential in 2 main fields: Life sciences (Health & digital Health, Nutrition, Foodtech, Blue Economy, Aquaculture, Animal & Agriculture, Sport & Wellness with a specific interest for MICROBIOME-related innovations …) across Europe, Israel, Asia and North America and Digital technologies in Europe. Investments can range between €500k and €10m per round, or up to €20m per company, from early to late stage, growth, pre-IPO and IPO. For more information: http://www.seventure.fr/en Twitter: @seventure