Global-e, a cross-border eCommerce specialist, has secured a $20 million investment led by Red Dot Capital Partners, an investment fund for growth-stage technology companies funded by Temasek Holdings, the Singapore government-owned investment company. The capital will be used to support and accelerate Global-e’s growth and expansion in Europe and other target markets.
Established in 2013, Global-e provides cross-border solutions for e-commerce retailers from its London headquarters. The company enables retailers to provide a localised e-commerce offering in more than 200 destinations worldwide and works with retailers, including Crabtree and Evelyn, Astley Clarke, Illamasqua, and Griffin Technology.
Amir Schlachet, CEO and co-founder of Global-e, said: “There is an increasing opportunity for retailers of all sizes to take advantage of the potential growth that cross-border e-commerce can provide. With emerging markets competing with Europe and the US, there couldn’t be a better time to start doing business in new overseas markets. With this investment, we plan to grow our cross-border e-commerce services further while expanding our teams in the UK, France, Spain and other European markets. Securing this funding from one of the world’s most established investment funds is a significant step for Global-e and we’re excited about the opportunity to work together with the highly experienced team of Red Dot throughout this next phase in our journey.”
Zvika Naggan, Managing Partner at Red Dot Capital Partners, said: “In just three years Global-e has grown rapidly and is now delivering impressive returns for a growing number of retailers in the UK and across Europe. Global-e is poised for further growth due to its unique offering for retailers seeking cross-border e-commerce solutions and the increasing numbers of consumers shopping with online retailers abroad. With backing from Red Dot, Global-e is in a great position to take advantage of the huge market opportunity.”
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