Independent retailer platform Creoate raises $5M seed led by Fuel Ventures
Creoate, a startup that lets independent retailers buy sustainable products from brands and wholesalers, has raised a $5 million seed round led by Fuel Ventures, with participation from Vinted founder Justas Janauskas.
Its competitors include traditional wholesalers that have supplied independent retailers for decades, and other startups such as Faire (U.S., raised $696 million) and Ankorstore (France, raised €115 million).
Founders Ashley Horn and Fahad Khan say the company aims at helping independent businesses and “reclaims the supply chain from global giants”. Khan says “Mom and Pop” are “faced with poor information, discriminatory pricing and unpredictable cash flows.”
Wholesale marketplace Creoate raises $5 million, aims to support the resurgence of independent retailers
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Fieldfisher advises OnBuy com on £35 million Series A+ financing
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Poole-headquartered OnBuy.com features more than 7,000 retailers hosting more than 36million products. In four years, it has reached a gross merchandise value of £155m with its first £8m of investment. Cas Paton, founder and chief executive of OnBuy, said; “The global e-commerce market is expected to total 4.2 trillion US dollars by the end of 2021, a figure that is set to grow even more over the next few years. “However it’s alarming to see that the industry is still following the same detrimental and unfair marketplace model that has existed for years. “I created OnBuy to provide something unique: a clear, level playing field – and in our four years of rapid growth, it’s clear to see that this is a model that works to everyone’s advantage.