(Image Source: NuORDER)
NuORDER, a B2B platform that facilitates the operation and management of e-commerce brands and retailers has just raised $45M from Brighton Park Capital, Imaginary Ventures, and other investors.
Amidst the Covid-19 pandemic, which caused strict lockdowns and contact restrictions globally, e-commerce was one of the few industries that managed to grow rapidly. As an effect of the e-commerce boom, NuOrder, has grown 125% in the last 12 months.
The funding was made known right after the launch of its wholesale payment service in late January. Many retailers like Saks Fifth Avenue, Bloomingdale’s, and Nordstrom are using the platform for both buying and selling.
However, less than a third of its gross merchandise volume is from Europe. To expand in this market, NuOrder appointed Natalie Massenet, Co-Founder and Managing Partner of Imaginary Ventures and founder of Net-A-Porter, to be a board member and strategic partner.
The new funding will help the company to extend to its target market and reshape existing commerce, payments, data, finance, and discovery between brands and retailers.
“The new capital allows us to accelerate our vision with key investments in product and engineering, and we feel fortunate to have such a great set of partners championing and supporting our growth.” Olivia Skuza, co-founder and co-CEO of NuORDER.