Paris, Mar 29, 2023 - Glopal, a leading provider of cross-border e-commerce solutions, is pleased to announce that it has raised €20m in a Series A funding round led by Hi Inov - Dentressangle and Crédit Mutuel Innovation. Historical investors, including Seventure and Axeleo Capital, also joined the investment round, along with industry experts like Motier Venture (Family office of Galerie Lafayette owners) and Pierre Denis, the former CEO of Jimmy Choo, who will also be joining the Glopal board.
Glopal's current funding round has a dual focus: first, to bolster the company's growth and expansion efforts in Europe, UK and the United States, regions where the company has already established a presence. To achieve this goal, Glopal intends to onboard new strategic talent that can support these efforts. Second, the company plans to further invest in its technology, leveraging its existing fully integrated, modular e-commerce software solution to strengthen its competitive advantage. This cutting-edge solution has been instrumental in driving sales growth for Glopal's fast-growing customer base across 100+ countries, providing immediate and measurable ROI. Glopal has already enabled more than $400 million in cross-border transactions for customers across Europe and North America, including retail leaders such as Dior, Balmain, Loewe and Babolat.
Glopal provides brands with the ability to increase their sales directly from their e-commerce platform while retaining control of their customer journey and brand. The company's suite of advanced modular solutions is designed to optimize essential cross-border functions such as translation, international marketing, payments, logistics integration, and tax and duty calculations. As a result of these comprehensive capabilities, Glopal's clients enjoy an average three-fold increase in global sales.
Patrick Smarzynski, CEO of Glopal: "In the current economic climate of high inflation, brands are seeking a competitive and cost-effective solution to expand into fast-growing international markets. As cross-border e-commerce solutions are emerging as a unique category with limited competition, our aim is to stay ahead of the curve and continue leading the market as the next generation cross-border sales solution. With this round of funding, we are well-equipped to accelerate our growth and offer innovative solutions that cater to the evolving needs of our clients”.
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 captivated 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 Hi Inov
Founded in 2013 by Pierre-Henri Dentressangle and Valérie Gombart, Hi Inov is a European B2B innovation capital firm created by entrepreneurs for entrepreneurs. Hi Inov supports European hyper-growth companies that contribute, through their innovative digital technologies, to the transformation of the industry and services sectors. With an experienced team, a strong Franco-German culture and a solid network, Hi Inov accompanies companies from their beginnings to become world leaders in their category. With more than €250M of capital from entrepreneurs, medium and large companies and institutional investors, Hi Inov places sustainability and energy efficiency of technical architectures at the heart of its investment and support criteria. Its portfolio of some thirty European companies includes: Deepki, Platform.sh, 360 Learning, Agorapulse, Ninox.
For more information: www.hiinov.com - LinkedIn: https://www.linkedin.com/company/hi-inov/ - Twitter: @Hiinov
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 Partners
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.