MagaLoop, a Berlin, Germany-based digital B2B market, raised €9m in Collection A funding.
The spherical was led by current buyers Market One Capital and FoodLabs, with participation from current buyers Redalpine Capital and Bitburger Ventures and new buyers Fuse Enterprise Companions, Créateurs de Convivialité Ventures and Hesta Investments.
The corporate intends to make use of the funds to additional develop its community of impartial wholesalers and retailers and drive extra platform expansions.
Based in 2018 by Uwe Hölzer and Michael Högemann, MagaLoop supplies an app-based ordering platform which connects impartial retailers equivalent to comfort shops, bakeries, fuel station shops and late-night grocery shops instantly with suppliers. The app permits clients to order all the pieces from chewing gums to drinks via one faucet. It additionally provides good options like a barcode scanner to reorder objects or a complete order historical past.
MagaLoop at the moment has greater than 4000 energetic retailers with an order quantity of over €100 million yearly.
It at the moment employs round 70 individuals.