Tictail raises $22M in Series B funding and takes new investor Acton Capital on board
New York – July 29, 2015 – Tictail, the global community that allows you to discover the world’s greatest independent brands, today announces it has raised $22M in Series B funding by existing investors Creandum (Stockholm, Sweden), Thrive Capital (New York, NY,) Balderton Capital (London, UK,) as well as new investor Acton Capital from Munich, Germany.
The new funding will allow Tictail to enhance its mobile marketplace, further its global expansion, and solidify its mission of being the smartest e-commerce platform for the small business owner. The new Series B funding brings the company’s total amount raised to $32M.
“We’ve experienced explosive growth in 2014, now with over 85,000 independent brands and 2 million unique products on the site,”
Carl Waldekranz, Tictail co-founder and CEO
“We’re grateful for investors who share our long-term vision for the future of e-commerce as we continue to double-down on creating a community for independent retailers and a destination for shoppers searching for their new favorite brands around the world,” said Carl Waldekranz, Tictail cofounder and CEO.
Bringing together a range of global brands across fashion, design, art and home goods, Tictail provides a new way to discover the future’s greatest brands. Building off the launch of Tictail Marketplace, new capital will enable Tictail to further invest in elevated shopping functionality on mobile. Additionally, the company is heavily focused on its global footprint, with independent brands representing over 140 countries and 12 languages. This reach will expand further as a result of the new capital and will be instrumental in creating a truly local experience for over 95% of the platforms’ millions of monthly visitors.
“We have followed Tictail from the very start, and have been extremely impressed at all stages by both the product and team. Tictail is creating a platform and community to help the micro-business thrive online – a huge market opportunity that has only had the surface scratched. We’re excited to team up with them as they take the next, and most exciting step yet, to become the online destination synonymous with great independent brands and a marketplace filled with worldly products.” said Johan Brenner of Creandum, the leading Swedish investment fund that led the first round of financing in companies like Spotify, iZettle and Vivino.
“We are bullish on e-commerce marketplaces offering a unique business opportunity for both the retailer and consumer. We feel confident in the future of Tictail and are eager to watch its continued success.” adds Sebastian Wossagk, managing partner of Acton Capital from Munich, early investor in marketplace Etsy or online retailer zooplus.
“As an early investor in Tictail, Thrive has been devoted to Tictail’s vision of creating an unrivaled community for independent brands and international shoppers almost since day one,” said Will Gaybrick of Thrive Capital. “We’re thrilled to support Tictail in its next phase. The Tictail team is fast moving and customer focused, two key traits that will spell success in its mission of rethinking and expanding the e-commerce customer experience.”
“That’s the beauty of a three-year-old e-commerce company: we’ve been able to think mobile-first from day one.”
Carl Waldekranz, Tictail co-founder and CEO
“Needless to say, our product focus for both the brand and shopper is centered on mobile. On the consumer side, over 55% of all orders come from mobile, a huge number when you consider that the e-commerce industry average is at 10% (Forrester, 2015.) And for sellers, Tictail is the only e-commerce platform that lets you launch a full online store directly from your phone. We see this as an opportunity to break down barriers for entrepreneurs anywhere in the world to create an entire company directly on mobile,” explains Tictail’s founder Carl Waldekranz. .
Founded 2011 in Stockholm, Tictail is a free-to-use DIY e-commerce platform that enables independent brands to set up an online store in minutes. The brand focuses on strong community integration, simplicity of use, and attractive, customizable design. Tictail’s shoppable marketplace showcases independent brands from around the world, with 85,000 independent brands on the platform across 140 countries worldwide and currently has offices in both Sweden and New York.