Glopal – a leading provider of cross-border e-commerce solutions – announced that it has raised €20 million in a Series A funding round led by Hi Inov – Dentressangle and Crédit Mutuel Innovation. And historical investors, including Seventure and Axeleo Capital, also joined the investment round along with industry experts such as 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.
The company’s current funding round has a dual focus: first, to drive up the company’s growth and expansion efforts in Europe, the UK, and the United States, regions where the company has already established a presence. And to achieve this goal, Glopal plans to onboard new strategic talent that can support these efforts. Second, the company is planning to further invest in its technology, utilizing its existing fully integrated, modular e-commerce software solution to strengthen its competitive advantage.
This solution has been instrumental in driving sales growth for Glopal’s fast-growing customer base across over 100 countries, providing immediate and measurable ROI. And Glopal has already enabled over $400 million in cross-border transactions for customers across Europe and North America, including retail leaders such as Dior, Balmain, Loewe and Babolat.
Glopal offers brands with the ability to increase their sales directly from their e-commerce platform while retaining control of their customer journey and brand. And the company’s suite of advanced modular solutions is designed to optimize essential cross-border functions like translation, international marketing, payments, logistics integration, and tax and duty calculations. With these comprehensive capabilities, Glopal’s clients enjoy an average three-fold increase in global sales.
KEY QUOTES:
“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.”
- Patrick Smarzynski, CEO of Glopal
“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.”
- Valère Rames, Partner at Hi Inov
“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.”
- Cyrus Contant, investment director at Crédit Mutuel Innovation
