Tictail, a global e-commerce platform that helps consumers discover independent brands from more than 140 countries, today said that it had raised $22 million in Series B funding with existing investors Creandum of Stockholm, Thrive Capital of New York, Balderton Capital of London and Action Capital in Munich.
The new funding will allow Tictail to enhance its mobile marketplace, further its global expansion and solidify its mission to be the go-to platform for small business owners. The new series B funding brings the three-year-old company’s total funds raised to $32 million.
Tictail’s offerings include fashion, design, art and home goods.
“We’ve experienced explosive growth in 2014 with over 85,000 independent brands and 2 million unique products on the site,” said Carl Waldekranz, cofounder and ceo of Tictail. “We’re grateful for investors who share our long-term vision for the future of e-commerce as we continue to double-down on creating a community for independent retailers and a destination for shoppers searching for new favorite brands from around the world.”
Tictail builds customizable online stores for brands, each with its own URL domain. The basic stores are free. Premium add-ons can include advertising and smarter ways to keep in touch with customers. “We give big business benefits to small businesses,” Walderkranz said.
Brands are responsible for fulfillment, although that may soon change. “We want to help them with shipping and accounting. Over time, we’ll roll out a premium service for shipping. Tictail will never carry inventory. We’re helping stores go out on their own,” Walderkranz said.
The new capital will allow Tictail to further invest in elevated shopping functionality on mobile. The company will also be able to further expand its global footprint as a result of the new capital and will create local experiences for more than 95 percent of the platform’s millions of monthly visitors.
“Our product focus is centered on mobile. That’s the beauty of a three-year-old e-commerce company; we’ve been able to think of mobile from day one,” Walderkranz said. “Tictail is the only e-commerce platform that lets you launch a full online store directly from your phone. We see this as an opportunity to break down barriers for entrepreneurs anywhere in the world and create an entire company directly on mobile.”
“We have followed Tictail from the very start, and have been extremely impressed at all stages by both the product and team,” said Johan Brenner of Creandum, the Swedish investment fund that led the first round of financing for companies such as Spotify and Vivino. “Tictail is creating a platform and community to help the microbusiness thrive online — a huge market opportunity whose surface hasn’t even been scratched.”
“As an early investor in Tictail, we’ve been devoted to their vision of creating an unrivaled community for independent brands and international shoppers,” said Will Gaybrick of Thrive Capital. “There was no hesitation to join Tictail in its next step. The entire organization is built for fast iteration and is customer-centric, which we know is the key to success. We’re thrilled to participate in this new round of funding with the passionate Tictail team dedicated to rethinking the way consumers interact with e-commerce.”