Riga-based Sell.xyz raises €1.5M for its e-commerce platform
Latvian startup Sell.xyz has raised €1.5 million for its on-demand customized cosmetics and supplements fulfillment solution. The platform for dropshipping works both in the EU and the US markets, Tech.eu reports.
- Founded in 2021 by Reinis Vaivars, Sell.xyz is a one-stop e-commerce solution connecting cosmetics and supplements creators and merchants with dropshipping and wholesale suppliers.
- The platform offers a fully automated dropshipping service allowing to design products, create an online store, handle the orders and ship them to customers.
- Aigars Kesenfelds, an angel investor led the investement. The founding Latvian investors Eleving Group, Mintos, and Sunfinance supported the round.
“With Sell.xyz we’re unlocking stagnated product categories, like cosmetics, to become more sustainable and remove barriers to entry,”Sell.xyz CEO Reinis Vaivars explains the startup.
- The new €1.5 million investment will help Sell.xyz contest with existing Latvian on-demand platforms: Printify, Supliful, Print on Back, and Self Named.
- The startup plans to use the funds to make the cosmetics and supplements lines available globally. Also, it wants to add the apparel category to the lineup.