15
November
2021
|
09:00
Europe/Amsterdam

merXu announces Series A fundraise led by Prosus Ventures to accelerate growth in Europe

POLAND— 15 November 2021— merXu, an online B2B trading platform for companies in Central and Eastern Europe, today announces a Series A funding round led by Prosus Ventures, with participation from existing investors Accel and Point Nine.

Founded in 2020 by Przemyslaw Budkowski, Tomasz Nowak and Sebastian Pietrowski, formerly CEO, COO and Development Director of Allegro Group respectively, merXu is an international B2B platform for the industrial market currently operating in Czechia, Estonia, Hungary, Lithuania, Poland, Romania and Slovakia. The company serves thousands of small and medium-sized enterprises, creating a secure business environment that connects verified buyers and sellers to purchase goods online.

The proceeds of the fundraiser will go towards the company’s next phase of growth, with plans to launch in new European countries, prioritizing its international footprint into Germany, which launched today. Poland alone is Germany’s third-largest business partner and the Visegrad Group (an economical alliance of four countries of Central Europe: Czechia, Hungary, Poland and Slovakia, all of which are members of the EU and NATO) became the biggest economical partner of Germany in 2020, overtaking China, generating €286 billion EUR in export.

merXu also plans to use the funds to integrate B2B payments functionality within its platform and build out its team.

Przemyslaw Budkowski, CEO and Co-Founder, merXu commented: “Business owners and procurement managers are simply spending too much time finding professional and reliable sellers. Manufacturers on the other hand struggle to expand their businesses internationally, facing challenges with payments and logistics experience. We’ve seen the B2C space transition into a largely seamless experience today – one that is almost expected. merXu is looking to expand this accessibility and ease of purchasing to the B2B ecosystem in Europe. This new funding will allow us to accelerate our growth, while layering in new features with the European customer in mind.”

Sandeep Bakshi, Head of European Investments, Prosus Ventures adds: “Prosus Ventures invests in sectors around the world where innovation can significantly address big societal needs. The merXu team has built a product with clear consumer value that sits at the forefront of a few major trends: the acceleration of ecommerce adoption, nearshoring and the shift in manufacturing to Central and Eastern Europe. There are clear expansion opportunities ahead and we are delighted to join merXu’s exceptionally strong team as an investor. We look forward to supporting the company in its next phase of growth.”

Sonali De Rycker, Partner at Accel: “merXu’s B2B online trading platform, bringing together verified buyers and sellers, is providing business owners, procurement professionals and manufacturers with the same seamless digital experience that is already prevalent in the B2C space. With a large, fragmented market ripe for disruption, and an exceptional founding team that has successfully developed similar platforms before, there’s a huge opportunity for the merXu team ahead. We’re excited to be part of the journey.”

Pawel Chudzinski, Partner at Point Nine: “Merxu has made great progress since we invested in the company’s seed round last year. It is now ready to scale its business and take online wholesaling to a level that can unlock the huge potential of the market. We’re excited to continue supporting Przemyslaw and his team on their further journey.

merXu supports a broad range of companies – across electrical and lighting, tools, construction, and industry and machine building, among others – by providing them with a comprehensive platform for B2B online trading on a national and international scale. B2B ecommerce in Europe has grown at seven per cent annually from 2013 to 2020. merXu is set to benefit from an acceleration of B2B buying transitioning online, allowing companies and their suppliers to find each other and transact digitally.

About MerXu

merXu is a pan-European B2B marketplace serving small- and medium-sized enterprises looking to buy wholesale goods online. The merXu platform enables manufacturers, wholesalers, contractors and retailers to buy and sell industrial products such as office equipment, lighting, machinery, chemicals and tools. With over two million products for sale, the merXu platform serves over fifteen thousand of companies across Central and Eastern Europe, currently operating in Czechia, Estonia, Hungary, Lithuania, Poland, Romania and Slovakia, with plans to expand to Germany and other countries in the coming months.

For more information, please visit www.merxu.com.

About Accel

Accel is a global venture capital firm that is the first partner to exceptional teams everywhere, from inception through all phases of private company growth. Arista, Atlassian, Braintree, Celonis, CrowdStrike, Deliveroo, DJI, Dropbox, Etsy, Facebook, Flipkart, Freshworks, Jet, Kayak, Lynda.com, Qualtrics, Rovio, Rows, Slack, Spotify, Supercell, Swiggy, Tenable, UiPath, Venmo and Webflow are among the companies the firm has backed over the past 35+ years. We help ambitious entrepreneurs build iconic global businesses. For more, visit www.accel.com or www.twitter.com/accel.

About Point Nine

Founded in 2011, Point Nine is a European early-stage venture capital firm focused on B2B SaaS and B2B marketplace startups in Europe and North America. The firm is a seed investor in more than 150 companies in over 30 countries, including Algolia, Brainly, Chainalysis, Clio, Contentful, Delivery Hero, DocPlanner, Front, Loom, Mambu, Revolut, Sqreen, Typeform, and Westwing, amongst others. Point Nine has one of the highest “seed-to-winner” rates of the industry.

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About Prosus:

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, billions of people use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos, Aruna, AutoTrader, Autovit.ro, Avito, Bibit, Biome Makers, Borneo, Brainly, BUX, BYJU'S, Bykea, Codecademy, Collective Benefits, Creditas, DappRadar, DeHaat, Domofond.ru, dott, ElasticRun, eMAG, Eruditus, Flink, Good Glamm Group, GoodHabitz, Honor, iFood, Imovirtual, Klar, Kovi, LazyPay, letgo, Luno, Meesho, Movile, Oda, OLX, Otodom, OTOMOTO, PaySense, PayU, Pharmeasy, Properati, Property24, Quick Ride, Red Dot Payment, Republic, Shipper, ShopUp, SoloLearn, Stack Overflow, Standvirtual, Swiggy, Ula, Urban Company, and Wolt.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, DeliveryHero, Remitly, Mail.ru, Trip.com, Udemy, Skillsoft, Sinch and SimilarWeb.

Today, Prosus companies and associates help improve the lives of more than two billion people around the world.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

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