Multichannel e-commerce technology provider Volo Commerce has raised around ?6.2m.
The investment was led by NVM Private Equity and funds managed by Downing also took part in the round.
UK-headquartered Volo is a software platform that lets clients efficiently and rapidly grow their e-commerce businesses by accessing marketplaces like Amazon, eBay and Walmart, as well as automating all aspects of the sales process. The platform also gives users analytics to help improve probability and growth
This capital will be used to expand its business into North America and across international sales channels.
NVM private equity investment director Charlie Winward said, ?The growth in multichannel e-commerce continues to accelerate and is a huge opportunity but also a complex challenge for most businesses. Volo has built a platform that removes much of this complexity with a revenue model that aligns with its customers to drive growth.p>
Including this round of funding, total equity raised by Volo has reached up to ?9.5m, with the company receiving a ?1m investment from Notion Capital.
Earlier in the year NVM committed ?1.5m to RegTech platform Contego Fraud Solutions ?3.5m fundraise. Other investments made by the firm include the ?2.5m investment into auto car e-commerce platform.
Investments into PayTech declined in the second quarter of 2017 from Q1; however, there had been an increase of the number of deals, according to data by FinTech Global.
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