Belgium

[Funding alert] Luxembourg-based Ecommerce Platform MarketLeap Secures €1.5 million in Seed Funding

Oct 10, 2023 | By Startup Rise EU

MarketLeap, an online store platform founded in Luxembourg, has received startup funding of €1.5 million. Notion Capital, Kima Ventures, Motier Ventures, existing investor Expon Capital, and others are participants in the most recent round.

MarketLeap, an online store platform founded in Luxembourg, has received startup funding of €1.5 million taking its total funding to €2.6 million. Notion Capital, Kima Ventures, Motier Ventures, existing investor Expon Capital, and others are participants in the most recent round.

The extra financing will speed up IT operations when the platform introduces new offerings. Along with expanding locally, it will also help the UK operation grow.

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MarketLeap, a platform that was originally Gonuggets when it launched in 2022, assists brands in expanding their business into more than 30 nations. In the first month of operations, customers 'achieved an average of 4x revenue growth,' according to the company.

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Mamoun Benkirane, CEO, who founded MarketLeap said, “Currently, most brands reach only 0.2% of their total marketplace potential due to a lack of expertise, time, and money. They end up spending over 70% of their time managing their marketplace operations, accounting for less than 20% of their total revenue. We make marketplaces the easiest sales channel for brands, with no time, effort, or capital required, allowing them to focus on what they are the most passionate about, building and sourcing their products,”.

Owen Reynolds, Venture Partner at Expon Capital said, "The e-commerce landscape is evolving rapidly, and online marketplaces are becoming the established backbone for many of the largest online retailers. The skilled and experienced founding team immediately made MarketLeap’s potential and differentiation clear in this noisy field. MarketLeap is pioneering the way brands expand globally, compete effectively, and access hidden demand,”.

About MarketLeap

We are a group of passionate e-commerce experts at MarketLeap, with a sizable portion being skilled in developing software. Utilizing robotics and artificial intelligence to broaden the worldwide e-commerce footprint of hundreds of thousands of brands is our group's aim.

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The creators of MarketLeap offer a lot of experience in building businesses to astounding altitudes and securing annual sales of more than €1 billion. Our track record has been developed across a wide range of channels and platforms, including market leaders like Jumia, well-known e-commerce sites like Shopify, and industry heavyweights like Amazon.

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