December 20, 2020
Bizay, a customised products marketplace for SMBs, announced it has successfully raised a €32 million Series C financing round, which will serve to accelerate growth and consolidate its position in international markets.
Bizay is an online platform from Portugal that’s aimed at small-to-medium sized businesses. It allows them to create customized products, like marketing cards, flyers and leaflets, stickers, and T-shirts.
The Series C financing 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. Currently, the company, founded in 2013, sells to over one million small-to-medium sized business in 21 countries across Europe and America.
“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”, says Bizay´s CEO, Sérgio Vieira.
Previously, 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.
Source : ESSENTIAL BUSINESS, ECOMMERCE NEWS