Eighteen months after receiving an initial £2m funding, eSellerPro have just been topped up with another £1m from Notion Capital.
“The new funding will go towards expanding the business both technically and geographically, ensuring the company maximises on the opportunities in markets beyond the UK, including the US market which they say is worth more than $300bn“.
Mind you to put the new funding into perspective, with around 100 eSellerPro employees, £1m is in reality not even close to 6 months staff salaries. However on the plus side eSellerPro processed £233m in sales on behalf of its customers in 2011 and will soon move through the £1m per day threshold. Even with just 1% fee percentage there’s a fair amount flowing through the company accounts.
International expansion is something that’s often eluded many of the multi-channel management companies. ChannelAdvisor have managed it, but the likes of Vendio, Inkfrog and Infopia haven’t ventured outside the US market. If eSellerPro can go international they’ll be well placed to capture cross border trading merchants around the world.
