CloudCart opens new investment round to raise 10 million euros by the fourth quarter of 2024
CloudCart, a professional platform for creating online stores, is launching a campaign to raise 10 million euros in Series A funding by the fourth quarter of 2024. With stable financial forecasts, the company expects to exceed a turnover of 25 million euros over the next four years, utilizing its scalable business model and innovative AI solutions.
Over the past three years, CloudCart has attracted investments of over 2 million euros from New Vision 3 (NV3), Sportal Media Group, ITA Group Bulgaria, and Elevator Ventures, accelerating their development. Starting today, the new capital raising begins through the European innovation financing platform SeedBlink. Interested parties can participate with a minimum investment of 2500 euros, receiving shares in CloudCart. The company is valued at 14 million euros in this round (before investments).
“This investment round is much more than just financial participation, it represents a strategic partnership that will shape the future of eCommerce. Your investment not only supports CloudCart but also paves the way for innovations that transform the way merchants and consumers interact,” said Nikolay Iliev, CEO of CloudCart.
The company’s customer acquisition strategy includes a unique ecosystem of professional services, aimed at online store owners and their needs in various areas. Part of the objectives set in the new investment round are establishing and maintaining strategic partnerships in every market and continuously improving their product. CloudIO, their new AI tool, is the latest proof of technology’s power and how CloudCart elevates entrepreneurship to another level. The result is up to 5 times lower costs for product descriptions and up to 5 times faster SEO optimization. Moreover, CloudIO saves over 90% of the time for product descriptions for each merchant.
Entering new markets is a primary focus for the company. With a current presence in seven regional markets, the company has established a significant presence in countries like Bulgaria, Greece, and Romania. Entering the vast potential of eCommerce in Germany, Europe’s largest economy, is the next big step forward and upward. CloudCart is also considering markets with less developed e-commerce and lower competition, such as Serbia, Albania, Macedonia, Bosnia and Herzegovina, and Croatia.
CloudCart is an innovative platform offering eCommerce-as-a-service, allowing over 1600 online merchants to use the powerful eCommerce and marketing tools developed by the company. This enables them to realize more sales and increase customer satisfaction. CloudCart offers unique solutions to ease its merchants’ work, such as AI tools, access to Analytics within the platform, an innovative checkout process, marketing tools, various discount and promotion options, automations, and integrations with hundreds of payment, delivery, business management solutions, and many more.