Procurement platform Qogita steps out from shadows with €80 million Series B funding raise
Qogita Secures Additional €80 Million in Series B Funding
London-based Qogita, a wholesale e-commerce platform specialising in the health and beauty sector, has announced it has raised €80 million in Series B funding, bringing its total funds raised to €119 million.
The funding round did not specify the exact amount raised beyond the previously mentioned €80 million. Participants in the round included previous investors LocalGlobe and Bessemer Venture Partners, as well as Dawn Capital.
Qogita offers an all-in-one solution for B2B wholesale in the health and beauty industry. The platform streamlines procurement by digitising and automating the entire supply chain process for buyers and sellers. By addressing industry fragmentation and eliminating cumbersome negotiations, Qogita aims to increase market efficiency, transparency, and profit margins.
The platform allows buyers, typically small and medium-sized retailers, to select products from a broad range of popular health and beauty brands on the platform. Qogita's system then manages the entire ordering, payment, and fulfilment process, removing manual, complex supply chain management tasks. This automation improves speed and efficiency, reducing labor costs.
Key features of Qogita include an end-to-end digital procurement solution, a large product selection from well-known brands, automated supply chain and order processing, enhanced market transparency, and a proven impact with $1.5 billion worth of transactions processed in 2024.
Qogita differentiates itself from competitors like Ankorstore and Faire by focusing on the health and beauty vertical with a strong emphasis on automation and supply chain simplification. The platform's algorithm-based allocation system matches buyers' carts to the optimal mix of sellers, which is impossible to replicate manually.
Qogita operates in 28 countries, including Europe and the UK, and has over 300 sellers and a team of 75 people with employees in 12 countries. The funding will be used to invest in product development and category expansion.
Norman Fiore, General Partner at Dawn Capital, has expressed enthusiasm about Qogita's potential to revolutionise wholesale procurement. Qogita's mission is to transform procurement and provide the buying power of a global chain to every ambitious e-commerce platform or mid-sized store. The platform takes care of the whole purchase, including shipping and delivery, aiming to make wholesale procurement as simple as buying products on Amazon.
Qogita's focus on the health and beauty sector and its streamlined, automated approach sets it apart in the wholesale procurement market. The company aims to power a future generation of e-commerce and retail businesses, bringing innovation and choice to consumers.
- Qogita's recent Series B funding of €80 million indicates the fusion of finance and technology, as the platform plans to invest in product development and category expansion.
- In the health and beauty sector, Qogita's all-in-one business solution leverages technology to digitise and automate the supply chain process, boosting market efficiency and profit margins.
