Neteven eye up international expansion with €3.6million investment
Neteven, a multi-channel marketplace management solution specialising in cross-border trade, has raised €3.6 million in capital and announced that it will be opening offices in Germany and the UK. It is currently based out of France.
Neteven has closed investment of €3.6 million with a group of investors and advisors led by ERMAK, Supremum Capital,the founders of Ogone and Concentric. Neteven has been profitable since 2011 and the funds are sought specifically to accelerate international expansion.
“Over the past three years, Neteven has been signing up merchants outside of France. With good results and successful proof of concept in the UK, Germany, Spain and Italy, it was time for us to accelerate our growth by opening local offices. Thanks to our excellent market position and financial health, we were able to attract several sources of funding. We are proud to be accompanied by investors who have both expertise in our domain and an international network. Our historical investor, A Plus Finance, remains alongside us for this new step in Neteven’s history,” explains Greg Zemor, co-founder and CEO of Neteven.
Greg Zemor adds: “We strongly believe in a “global” strategy – a global technical solution attuned to local specifics. Each country has a different approach to ecommerce. Through working for the past three years with UK, German, Italian and Spanish brands and e-tailers, we have gained expertise and built a strong network. Our value proposition as a cross-border trade platform focused on the marketplaces is of great value to our clients, software companies, logistics providers, and marketplaces in each of our core regions. To move forward, it was inevitable that Neteven should have a physical presence in these regions. This is the strategic choice we have made in order to become the European leader in the marketplace space.”