Bizay raises €32 million in Series C round
Bizay, a customised products marketplace for SMBs, announced today it has successfully raised a €32 million Series C financing round, which will serve to accelerate growth and consolidate its position in international markets.
The round was co-led by Indico and the European Investment Bank with strong support from Iberis Capital and existing investors including LeadX Capital Partners, Omnes Capital and Pathena.
The financing round will accelerate the development of further product expansion targeted at SMBs, with the objective of reaching 100,000 products available on Bizay’s platform. The investment will reinforce Bizay´s presence in the 21 markets in which it operates.
Bizay aims to become the ‘Amazon’ for fulfilling the needs of SMBs for customised products, such as merchandising, packaging and consumables, business essentials, decorations and uniforms, with professional quality at a fraction of the cost. The startup currently sells to more than one million SMBs in 21 countries across Europe and America.
Bizay´s CEO, Sérgio Vieira, says that “The current health crisis accelerated the shift to online ordering of customisable products at reduced prices. Our platform will be a key facilitator for businesses to recover at a faster pace. We are totally confident in achieving the goals that will allow us to enter a new level of global ambition”.
“We are also very pleased to have the support of new and existing investors who understand and share our vision and strategy for organic and international tech-led growth. Investors’ trust gives us the confidence to take advantage of the opportunity that lays ahead,” he added.
Stephan Morais, Managing General Partner at Indico Capital Partners, mentioned, “Bizay is entering a new growth phase and this round will consolidate their presence across Europe and enable them to capture the opportunity that stems from the shift towards online ordering of personalised products for SMBs. We are very pleased to support such a dedicated team, with so much experience and a proven track record of execution globally.”
With the financing round announced today, Bizay has already raised a total of more than €54 million. The company had previously raised a Series B financing round of €22 million from several national and international investors.
Torch Partners acted as the exclusive financial advisor to Bizay on this transaction.