Thrive Capital invests USD 8 million in TicTail ecommerce platform

Thursday 20 February 2014 08:52 CET | News

Sweden-based TicTail, an ecommerce online platform, has recently received USD 8 million in Series A funding from Thrive Capital, a venture capital investment firm focused on media and internet investments, TechCrunch reports. The money will be invested in the opening of a NYC-based office.

TicTail is dedicated to ease the process of online storefront accessibility and creation for DIY users. Moreover, the platform targets two categories of users, namely the DIYs and those who have no knowledge of internet access, as part of the agreement`s agenda to turn the platform into a free-of-charge business from the users’ perspective.

TicTail users have to choose from the platform-based add-ons in order to upgrade their storefronts. The add-ons are developed by third-party developers who pay a 30% commission on sale. The platform hosts a total number of 35,000 stores, as compared to 2012 when the platform hosted 5,000. In August 2013, the number escalated to 23,000 online stores.

In February 2012 Thrive Capital also financed US-based online, mobile and social payments platform provider Dwolla.

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Keywords: Thrive Capital, TicTail, ecommerce, investment, online platform, DIY
Categories: Payments & Commerce
Countries: World
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