Moteefe, the e-commerce platform for on-demand production of merchandise, has raised $11 million in a Series B funding round.
Leading the round is BGF, with participation from existing investors including Gresham House Ventures and Force Over Mass Capital.
The injection of capital will be used by Moteefe to continue scaling and meet growing demand from entrepreneurs and retailers that want to offer customized products to their customers. This increasingly includes larger retailers that are using the platform to test new product styles and categories, which, says Moteefe, outdated systems and supply chains are ill-equipped to handle.
Launched in early 2016, Moteefe provides an “end-to-end” technology solution for entrepreneurs, influencers and micro to large retailers wanting to design, create and sell customized products, such as printed t-shirts or engraved jewelry. The platform enables brands to design merchandise and sell it via their own white-labelled Moteefe store or through their own site, app or other marketing channels.
“Retailers of all sizes have total flexibility: they can use the Moteefe platform either as a fully integrated end to end service, or just pick and choose the parts they need,” says the company. “And as Moteefe is whitelabelled, the retailer owns the customer relationship and can use the data to drive repeat sales”.
To date, Moteefe says it has more than 5,000 retailers, from indie entrepreneurs to high street brands, using the platform.
“At a time when global retail has been suffering and supply chains have virtually ground to a halt, we have seen a doubling in users and strong customer demand for our retailers’ products,” says Mathijs Eefting, CEO of Moteefe, in a statement. “This increased demand enabled us to grow our team and increase our production throughput, benefitting our entire network and creating high quality jobs internationally. “We have moved beyond our original goal to help anyone set up a store and sell globally. We now are able to support innovative retailers of all sizes to respond to entirely new e-commerce demands and opportunities”.