PrestaShop secures USD 9.3 million in series B funding

Wednesday 12 March 2014 08:08 CET | News

PrestaShop, an ecommerce software provider, has secured USD 9.3 million in a series B funding round led by investment companies XAnge Private Equity, Seventure Partners and Serena Capital.

The USD 9.3 million round adds to the USD 5.57 million raised in 2008 and 2010 through Angel investors and a series A round led by Serena Capital in 2011. The company has revealed plans to use the new capital to fund its international expansion.

PrestaShop is a free and open-source ecommerce software powering over 165,000 active online stores worldwide. PrestaShop provides online merchants with hundreds of tools to build and manage an online store, being used in over 160 countries.

In February 2014, PrestaShop has entered an agreement with Alliance Processing, a provider of high risk global merchant transaction processing solutions onshore and off, so that users who fall under the high risk account category can gain access to a payment processor with an approval rate for high risk merchants

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Keywords: PrestaShop, funding, XAnge Private Equity, Seventure Partners, Serena Capital, ecommerce
Categories: Payments & Commerce
Countries: World
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