Volusion raises USD 35 mln to take on Shopify

Tuesday 14 January 2014 09:23 CET | News

US e-commerce services provider for online businesses Volusion has raised USD 35 million in debt financing from Silicon Valley Bank.

Volusion’s software allows anyone to build an e-commerce website and includes the ability to control the design of the website, merchandising of products, SEO and social media, as well as payments and processing. Currently, Volusion has 40,000 customers who made more than USD 2.8 billion in sales in 2013, and has processed USD 12 billion in sales.

Volusion’s newest offering, Mozu, is targeted at mid-market to enterprise companies. The platform was built with API-first architecture for customisation and integration with other applications, and software.

The funding will be used to add value from investors without dilution. And the credit facility will be used to help market and expand Mozu, and prepare the company for a potential IPO in the next year or so.

Volusion provides shopping cart software for thousands of customers worldwide, including Disney, Motorola, Chicago Tribune, 3M and Crutchfield. In 2009, over USD 2 billion in transactions were processed via the Volusion platform. Volusion is PCI certified and is listed on Visa’s approved provider list.

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Keywords: Volusion, e-commerce, debt financing, Silicon Valley Bank
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce