eSellerPro secure £2m investment
Deal marks 8th investment for Notion Capital
E-commerce site eSellerPro has raised £2m in investment from Notion Capital to drive forward ambitious expansion plans.
Founded in 2006, eSellerPro has experienced 100% year-on-year growth and its platforms now process more than £150m in annual sales. The unique technology used by the e-commerce platform integrates the entire online sales process solving the challenge of managing multiple outlets and capitalising on the growth in the e-commerce market.
The funding will enable the company to invest in a number of important areas including: sales, marketing and customer services, to drive and support huge demand across the UK, European and US markets.
Chris Farrelly, CEO at eSellerPro, said: “The UK online retail market is expected to be worth 13.8% of the total retail market by 2012. This represents a huge growth opportunity for eSellerPro and allows us to strengthen our development and support infrastructure.”
eSellerPro has tapped into the explosive growth of UK online retail spending, which has nearly tripled in the last three years, and its clients include online giants eBay and Amazon.
Farrelly added: “The Notion Capital investment provides us with a cash injection and direct access to a team with significant experience of scaling businesses quickly and globally.”
Notion Capital provides investment funds for internet-based services and the eSellerPro venture marks its 8th investment to date, since they were founded in 2009.
“The past and predicted growth of the e-commerce market makes this a very exciting area to be investing in,” said Ben White, founding partner at Notion Capital.
He added: “eSellerPro not only has unique technology in the e-commerce sector but also directly links through to the bottom line by enabling customers to tap into new markets and ultimately sell more.”
© Crimson Business Ltd. 2010