Qogita Secures $86M in Series B Funding to Expand E-commerce Wholesale Platform

Qogita, the London-based e-commerce wholesale platform, raises €80 million ($86 million) in a Series B funding round led by Dawn Capital. The platform, co-founded by Yaniv Toledano and Danny Toledano, targets health and beauty retailers and competes with Ankorstore and Faire.com. Qogita, operational since 2021, has raised a total of €119 million and plans to expand into new sectors with the funding. The platform manages the entire purchasing process and offers a Buy Now, Pay Later (BNPL) platform for small and medium-sized e-commerce retailers facing cash flow challenges.

Qogita's Series B investment, which included former investors Accel, Bessemer Venture Partners, and LocalGlobe, aims to digitize the B2B wholesale market in Europe. The platform utilizes a comprehensive approach to handle every step of the wholesale buying procedure, addressing the challenges faced by small and medium-sized businesses in the $6 trillion e-commerce market. With global demand for one-click services growing, the health and beauty-focused platform targets a market expected to be valued at $785 billion by 2025.

Qogita faces competition from Ankorstore and Faire.com, with Qogita's CEO Manolis Manassakis highlighting the platform's unique matching system. The company, despite not having a direct competitor, aims to disrupt the B2B wholesale market in Europe by enhancing efficiency and transparency. With Dawn Capital's Norman Fiore praising Qogita's platform for handling the complex and opaque product procurement process, the funding will support the platform's expansion into new sectors and regions.

As the B2B wholesale market in Europe remains large, fragmented, and complex, Qogita's ambitious plans align with the growing digital shift in the industry, offering SMEs a comprehensive solution for their wholesale needs. The platform's success in attracting funding indicates investors' confidence in its potential to transform the traditionally analogue wholesale market.