The Week’s Biggest E-commerce Funding Rounds: neobank Zopa takes home €82M and data protection company Veeam held a $2B secondary share sale at a $15B valuation

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This is a weekly feature that runs down the week’s top e-commerce deals. Check out the rest of this week's e-commerce news here.

Here were last week's e-commerce biggest seed rounds, IPOs, and acquisitions of interest for the week ending December 24, 2024. 

1. Zopa, a UK-based neobank that provides loans, credit cards, and savings accounts to around 1.3M customers, raised €82M in a round led by A.P. Moller Holding, at an over $1B valuation. The company is profitable and has been growing its customer base at a rate of around 35% annually, with expectations to end the year with 1.4M customers and £5B in deposits. Zopa described its previous fundraise as its “pre-IPO round” in 2021, but has since taken the idea of going public off the table for the time being. 
2. Zimi, a startup that seeks to simplify cross-border commerce for merchants, raised $2M in a seed round led by Fearless Fund. The company is trying to solve the problems of brands facing high shipping costs, long delivery times, and having to rely on expensive distributors when shipping internationally. The company will use the funds to scale its US fulfillment networks and build and apply AI models to its merchant experience.
3. Veeam, a data protection, management, and recovery platform that supports AWS, Azure, Google Cloud, and other major cloud providers, held a $2B secondary share sale led by TPG that valued it at $15B. The sale triples the company's valuation since it was acquired by Insight Partners for $5B in January 2020. Veeam plans to allocate the funds for strategic acquisitions and to bulk up its research and development team. 
4. Enterpret, an AI startup that transforms customer feedback into insights that can inform product development, raised $20.8M in a Series A round led by Canaan Partners. The company's platform uses adaptive AI algorithms to unify and analyze large volumes of unstructured feedback data from sales calls, research surveys, support tickets, social media posts, and reviews to help companies understand key themes and issues customers have with their products and services.
5. MobiKwik, an Indian financial services startup that operates one of the most widely used mobile wallet apps in the country, is seeking to raise $69M in an IPO this week, well below the $255M it initially targeted back in 2021. The company, which services 161M users and 4.26M merchants, says it will use the proceeds from the IPO to fund its growth and to invest in AI. 
6. Fresho, an order management platform that helps fresh food wholesalers operate more efficiently, raised $17M in a Series B round led by Geoff Tarrant, bringing its total amount raised to $50M. Fresho's platform transforms how fresh food moves from supplier to restaurant kitchen, addressing the industry's unique challenges where produce travels from farm or ocean to restaurant in days, prices fluctuate daily, and high-end restaurants demand perfection. The company recently celebrated processing its 30 millionth order since 2016, with 10 million orders in the past year alone.
7. OneRail, an Orlando-based provider of last-mile delivery solutions, raised $42M in a Series C round led by Aliment Capital. The company will use the funds to enhance OmniPoint, its platform that automates fulfillment orchestration and last-mile logistics by automatically selecting the right place to fulfill inventory from, the right shipping mode, and the right carrier to optimize every order.
8. DHL Supply Chain acquired a controlling interest in Brandpath, a UK-based e-commerce fulfillment provider, for an undisclosed amount. The deal will combine Brandpath's flexible e-fulfillment services with DHL's global logistics expertise and infrastructure spanning 220 countries and territories, while aligning with DHL Group's “Strategy 2030,” which focuses on accelerating e-commerce growth.
9. Celero Commerce ,a Tennessee-based financial services firm, acquired Precision Payments, a Sarasota-based e-payments technology provider for SMBs, for an undisclosed amount. With the addition of Precision, Celero’s annual card processing volume across North America is expected to exceed $28B.

Stay Tuned!

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