D2C Ecommerce Startup MarketLeap Bags $8mn Series A Funding
The founders launched an ecommerce operating system that uses AI and automation to help brands break through barriers to international expansion.
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MarketLeap, an AI driven platform that aims to simplify and scale D2C ecommerce, has announced an $8 million Series A funding round led by Smedvig Ventures, with participation from Expon Capital, Motier Ventures and business angels including former executives from Amazon, SoftBank, and Unilever.
The capital injection will allow the company to accelerate platform development and invest in new employees.
MarketLeap offers customers – including Edible Health, 5 Stars United, and MonkeyHands – a platform solution that uses AI powered automation to navigate the complexities of marketplace operations and backend management. It combines a tech solution with partnerships with marketplaces, third-party logistics (3PL) providers, compliance experts, and finance partners.
The company was founded in 2022 by Mamoun Benkirane and Mekki Mouaddeb, who both previously worked for Amazon and Jumia. The inspiration for MarketLeap came when the former led a webinar for Amazon sellers about expanding into new markets and found himself inundated with emails complaining about the complexity of the process and tools provided. Concurrently, the latter found that while many sellers demonstrate exceptional strengths in sourcing profitable products, they face significant challenges in scaling their operations internationally.
Upon realising more than 90% of sellers with revenues over half a million make more than 80% of their revenue in just one market, the pair launched an ecommerce operating system that uses AI and automation to help brands break through barriers to international expansion by connecting them with global marketplace customers.
Jessika Nilsson, Chief Operations Officer, Edible Health, said, “MarketLeap goes beyond being a KPI dashboard or global distributor. It is a partner that supports all areas of international marketplace ecommerce operations, powered by data driven insights. The company invests in its customers’ growth and the technology, combined with this unique ‘skin in the game’ approach, makes it the perfect partner for confidently and smoothly selling worldwide.”
