Through the acquisition, Global-e will have access to Flow’s API-based technology to provide small merchants with a tailored solution catering to their needs of emerging businesses. The deal is also set to expand the relationship with Shopify to offer cross-border services.
The deal was signed for around USD 500 million in equal portions of cash and Global-e shares. Simultaneously, Global-e issued a warrant worth USD 70 million in shares to Shopify to continue increasing the strategic partnership with the ecommerce platform.
As part of the Global-e family, Flow Commerce is expected to generate around USD 20 million in net revenues for the 2021 calendar year.
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