Shopgate snaps up USD7m for mobile commerce

shopgate

Secured funding

Mobile commerce software Shopgate has raised USD7m from Northcapand Creathor Venture. Shopgate develops a mobile app that enables businesses to set up their own mobile store or customised app. The firm says it will use the investment to enhance the technology, increase staff and form strategic partnerships.

Shopgate was founded in 2009 and is based in Germany and California. The company claims its software is used by at least 5,000 merchants across five different countries, while the technology is responsible for more than 50,000 daily orders.

“Mobile commerce will become a USD150 bn+ market in the next three years. However, besides Ebay or Amazon only very few companies have been able to build a solid and successful company in this industry. For m-commerce to be taken seriously it needs an independent and focused approach. The Shopgate technology and the resulting benefits for merchants are far ahead of any alternative worldwide.” said Dr. Gert Köhler, CEO of Creathor Venture. “The hyper growth and execution power of Shopgate in the last 18 months has been breathtaking.” 

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