“Retail Revolution: Qogita Secures $86M Series B Funding to Challenge Ankorstore in Europe’s Wholesale Market”
Qogita – a two-sided ecommerce wholesale marketplace aimed at retailers largely in the health and beauty sectors – has raised €80 million ($86 million) in a Series B round led by London’s Dawn Capital and Accel.
Targeting SME e-commerce retailers businesses that want to deal with a more ‘all-in-one’ wholesale platform, Qogita is not dissimilar to Faire.com in the US (which has raised $1.7 billion to date) and Ankorstore out of France (which has raised €365 million).
In a statement, Norman Fiore, General Partner at Dawn Capital, said: “It is remarkable how complex and completely opaque product procurement still is for small and medium-sized businesses targeting the $6 trillion e-commerce market.
Qogita has built an all-in-one platform to address the entire wholesale procurement process.”Luca Bocchio, Partner at Accel, also added: “The B2B wholesale market in Europe is huge, but also fragmented and complex.
And in April, Ankorstore launched a new membership programme for independent retailers in Europe, removing minimum checkout amounts and waiving heavy/fragile shipping fees, plus a 90 day BNPL offer.
