Austrian 3VC co-led $120M Series A round for Shop Circle, a provider of e-commerce tools
London-based e-commerce software provider Shop Circle has raised $120 million in a Series A round of funding. The investment was co-led by 645 Ventures and 3VC, and joined by previous investors QED Investors and NfX.
- Founded two years ago by Forbes Under 30 Europe listers Luca Cartechini and Gian Maria Gramondi, Shop Circle provides budding e-commerce brands the tools they need to start, grow and sustain their businesses, such as online store design and inventory management. The co-founders claim that the startup has been profitable for 11 months, but revenue or valuation remains undisclosed.
- The round was led by US-based 645 Ventures, an early-stage venture capital firm that invests at the Seed and Series A stages, and Vienna-based venture capital group 3VC focusing on European technology startups with global ambition. In July 2023, 3VC joined a €4 million round for German deeptech DGG.
“We think Shop Circle is positioning itself to become an important player in shaping the future of eCommerce. The ultimate goal is to give merchants the tools to succeed and scale their online business. We couldn’t be more excited than to pursue it together with Luca and Gian and the rest of the Shop Circle team”,3VC commented on the deal.
- The fresh investment also saw participation from previous investors QED Investors and NfX. i80 Group provided a credit facility for the funding, which was secured through a strategic blend of equity and debt.
- Shop Circle aims to optimize brands’ tech stacks, reducing costs and increasing conversions to deliver better customer experiences.