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Oro raises USD 13 mln

Friday 20 January 2023 13:50 CET | News

Open-source ecommerce platform Oro has closed a USD 13 million strategic growth funding round led by private equity firm Zubr Capital to accelerate B2B ecommerce.

 

As detailed in the announcement, the funding had participation from existing investor Highland Europe, and comes as the company celebrates its 10th year as a digital commerce applications’ developer and is an affirmation of its commitment to improve its offerings and expand into new markets.

Funding details and Oro’s offering for the B2B ecommerce space

When commenting on the funding, Oro officials stated in their press release that over the past decade, the company has been supporting businesses, be those mid-sized manufacturers and distributors or large multi-channel brands, with selling into new global markets and developing effective, customer-centric digital commerce strategies. Following the receival of the newly announced capital, Oro believes it will be enabled to unlock new opportunities, invest in their product and community, and continue activating in the digital commerce industry.

Open-source ecommerce platform Oro has closed a USD 13 million strategic growth funding round led by private equity firm Zubr Capital to accelerate B2B ecommerce.

Oro provides a suite of open-source commerce applications:

  • OroCommerce, a B2B ecommerce platform built purposely for manufacturers, distributors, wholesalers, and brands.

  • OroMarketplace, an analyst-recognised marketplace management platform for all business use cases;

  • OroCRM, a flexible, multi-channel CRM solution;

  • And OroPlatform, a solution for developers of custom business applications.

As detailed in the press release, the strategic fundraising round comes more than six years after Oro’s previous funding round, highlighting its operations and consistent revenue growth. Since 2021, the company has seen an increase in sales volume across its platforms, having reached over USD 2.3 billion in total sales and supported more than 3 million transactions in 2022, thus marking a growing demand for its flexible, customisable platform. 

Additionally, the company also launched OroMarketplace, an end-to-end marketplace platform that features built-in CRM, robust APIs, and a fully featured sales enablement tools, with the launch of the platform thought to be a confirmation of its commitment to innovation.

Zubr Capital officials advised that the funding round follows their goal in investing in high-potential tech businesses and stated that Oro not only saw the potential of B2B ecommerce solutions, but is also positioned for rapid growth, something that the enterprise looks forward to supporting.

The funding is also set to improve Oro’s continuous support of its Ukrainian employees, looking to provide safety and stability to them and their families, as many of them have been evacuated to neighbouring EU countries. To do so, the company has created a charitable fund looking to deliver both aid packages and shelter for people that have been affected by the invasion of Ukraine.

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Keywords: funding, investment, expansion, B2B payments, ecommerce, B2B ecommerce, B2B, marketplace, ecommerce platform
Categories: Payments & Commerce
Companies: Oro, Zubr Capital
Countries: World
This article is part of category

Payments & Commerce

Oro

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Zubr Capital

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