Pitch deck: Retail startup Moteefe raises $11 million

Pitch deck: Retail startup Moteefe raises $11 million

  • London-based ecommerce platform Moteefe has raised its second funding round of 2020 with an $11 million raise from BGF. 
  • The company offers a turnkey solution for ecommerce retailers, allowing anyone to set up an online store through Moteefe’s platform. 
  • Moteefe saw a boom in demand as retail moved online during the coronavirus pandemic. 
  • Mathijs Eefting, CEO and cofounder of Moteefe, told Business Insider: “We grew 150% in the first half of the year while other retailers have struggled with their legacy supply chains.”

London-based ecommerce platform Moteefe has raised its second funding round of 2020 with an $11 million raise from BGF. 

Moteefe allows people to design and sell custom merchandise, such as T-shirts, phone covers, and cushions, and push it out through social media. Unlike services like Redbubble or Teespring, Moteefe doesn’t act as a searchable marketplace, but more of an end-to-end solution for individual sellers.

Moteefe says it saw an increase in demand as retail moved online during the coronavirus pandemic and the company now boasts more than 5,000 retailers on its platform. 

“We always knew we could present our solution to the market due to our on-demand platform, but Covid meant that it came sooner than expected,” Mathijs Eefting, CEO and cofounder of Moteefe, told Business Insider in an interview. “We grew 150% in the first half of the year while other retailers have struggled with their legacy supply chains.”

New investor BGF led the round with participation from existing investors Gresham House Ventures and Force Over Mass Capital following the startup’s $5 million Series A raise in February. 

BGF (or the Business Growth Fund) is the most active investment firm for small and medium-sized firms in the UK, and was set up by banks such as Barclays, HSBC, Lloyds, and Standard Chartered in the wake of the 2008 financial crisis to support small businesses. 

“We were impressed with how Moteefe’s unique platform capabilities have allowed it to continue on its fast growth trajectory during the first part of 2020 despite the COVID-19 pandemic,” said Daina Spedding, an investor at BGF.

“This performance has underlined the demand in the market for their technology as the global retail landscape undergoes a massive transformation.”

Check out the pitch deck BGF used to bring investors on board below: 

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