London-Based Qogita Raises £80 Million in Series B to Revolutionize Wholesale Procurement

London-based Qogita secures £80 million in a Series B funding round led by Dawn Capital, bringing its total funding to £119 million. The platform aims to revolutionize wholesale procurement, simplifying processes for small and medium-sized retailers, especially in the health and beauty industry. Qogita's one-stop-shop approach, similar to Amazon, streamlines product discovery, pricing optimization, and logistics coordination, providing an all-in-one solution for businesses.

With over £500 million in available inventory and the support of investors like Accel, LocalGlobe, and Bessemer Venture Partners, Qogita plans to expand its product categories and invest in further product development. The platform, founded in 2021, uses algorithm-based allocation, ensuring the best possible transactions while emphasizing cost-effectiveness, quality, and speedy delivery.

Qogita's CEO, Manolis Manassakis, aims to transform procurement for mid-sized retailers, offering them access to global purchasing power. The platform currently serves over 3,000 dealers and 10,000 buyers across 28 European and British countries. Investors praise Qogita's potential to revolutionize the fragmented B2B wholesale market in Europe, providing efficiency and transparency to a traditionally complex industry.

Qogita's elegant solution, blending search algorithms and marketplace dynamics, positions it as a unique player in the wholesale procurement space. As the company continues to develop, investors express excitement about its potential to power the next wave of e-commerce and retail companies, driving innovation and choice for consumers.