Flow raises $37M to simplify international e-commerce
Flow is a startup that assists brands and retailers in doing cross-border e-commerce business.
It has allocated $37 million in Series B funding.
What Does Flow Do?
CEO Rob Keve stated that thanks to the charm of social media and digital marketing, several direct-to-consumer brands are reaching customers around the world.
However, the real shopping experience for those customers often leaves a lot to be wanted.
Even if there are global purchase options, the shipping is ordinarily late or costly, plus the site may also fail to combine with local payment services.
Keve told that he and CTO Mike Bryzek co-founded the Hoboken, N.J.-based startup to resolve this problem.
Flow remains on top of current e-commerce platforms so that the shopper’s experience, whether that is a website, app, or distributed buy button is automatically tailored to their area, with regional pricing and payment choices.
Also, thanks to Flow’s relations with carriers, global shipping should be convenient and affordable.
And still, if a business previously has international shipping deals and distribution centers, they can yet use Flow to handle the logistics.
Established in 2015, the company stated that it is currently seeing 200% year-over-year consumer growth, with clients including online brands like MVMT Watches, as well as omnichannel businesses like MZ Wallace and Charles & Colvard.
More About The Latest Funding
With this latest funding, Flow has allocated around $55 million in total.
The Series B was directed by New Enterprise Associates, with support from American Express Ventures and Latitude Ventures.
NEA Venture Partner Liza Landsman (previous president of Jet.com) is entering Flow’s board of directors.
Landsman said in a statement that cross-border shopping is a fast-growing area of e-commerce, and more businesses are investing in their cross-border procedures to seize that international demand.
Flow is a premier merchant in this area, and its platform gives strategic benefits for brands and retailers starting or expanding into international markets.
He further said that his team is thrilled to assist Flow’s rapid growth.
Keve said that Flow would utilize the money to increase its sales and marketing team and to enhance the product.
He further said he desires to proceed to build out Flow’s services business.
While the company needs to give “a turnkey platform,” the technology is also “married” to Flow’s expertise about the tactics that work in every country.
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