Commercetools bags $145m funding round

commercetools, an API ecommerce platform, has collected $145m in a funding round from venture capital and private equity firm Insight Partners.

The capital injection was raised to support the FinTech’s growth in the USA, Asia-Pacific, and Europe.

In line with the deal, Insight Venture Partners managing directors Richard Wells and Matt Gatto will join the board of directors.

commercetools is a German FinTech company which helps commerce companies with a selection of software and APIs. Clients can use the company’s technology to build unique and engaging digital platforms which can use apps, wearables, shops, VR, IoT and more. Its platform also helps businesses to manage all of their retail channels.

commercetools CEO and co-founder Dirk Hoerig said, “Rather than relying on increasingly outmoded software, brands, manufacturers and distributors are choosing our cloud-native and modern software platform to transform their digital commerce for today’s consumers.

“To answer this demand, we have built a strong and successful international business and this new investment will enable us to intensify the pace of our growth into the North American and Asia-Pacific markets, as well as leverage our success in Europe.”

This investment comes after a year of strong growth for the company, which saw it open operations in the UK and Asia Pacific and added a range of new clients including Audi, Bang & Olufsen, Carhartt WIP, and Yamaha.

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