Veeqo, founded in 2013 by Matt Warren to develop a tech platform to enable retailers to sync their inventory and fulfil customer orders, has been acquired by Amazon which has been one of its largest customers.
Located in Swansea, Veeqo had secured backing from a number of investors including Octopus Ventures which had led a £3.3m equity round in 2019. Richard Bolton of Octopus stated: “It’s been a busy couple of years for Matt and his team due to the pandemic included eCommerce boom, we are excited to share that Veeqo has been acquired by Amazon.”
The value of the deal has not been revealed but it provides an exit for its investors with Matt Warren remaining in place to lead the business.
In a statement from Amazon, it said: “We’re excited Veeqo has joined Amazon. It’s an innovative company that helps sellers manage their multichannel business and provides an outstanding experience to shoppers. We plan to continue investing in new features and improvements to help Veeqo serve sellers globally from its home in Wale, facilitate growth for sellers’ multichannel businesses, and enhance the experience of their customers.”
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