Outvio, an Estonian startup that provides a white-label SaaS execution solution for midsize and large online retailers in Spain and Estonia, has closed a $ 3 million funding round led by Change Ventures.
TMT Investments (London), Fresco Capital (San Francisco) and Lemonade Stand (Tallinn) also participated. Several angels have also joined the tour, including James Berdigans (Printify) and Kristjan Vilosius (Katana MRP). This is the startup’s first institutional funding round after it started in 2018.
Online retailers typically have to use a number of different tools or hire expensive developers to create in-house shipping solutions. Outvio offers online stores of all sizes a post-purchase shipping setup, which seeks to replicate an Amazon-style experience where customers can also return packages. Among other things, it competes with ShippyPro, which comes from Italy and has raised $ 5 million to date.
“We can give any online store all the tools they need to deliver a superior after-sales customer experience,” said Juan Borras, co-founder and CEO of Outvio. “We can integrate at different stages of their execution process, and for large traders, save them hundreds of thousands of dollars just on development costs. “
“What happens after the purchase is more important than most stores realize,” he added. “Over 88% of consumers say it is very important to them that retailers proactively communicate every step of fulfillment and delivery. Failure to do so, especially if there are issues, often results in the loss of that client. Our mission is to help online stores streamline everything that happens after the sale, nurturing loyal and brand loyal customers with the help of a fantastic post-purchase experience.
“While online retail has a long way to go, consumer expectations are rising for delivery times and standards,” said Rait Ojasaar, investment partner at lead investor Change Ventures . “The same goes for online store operators who are increasingly looking for more advanced solutions with a user experience close to the consumer. The Outvio team understood the exact gap in the market and did a terrific job of finding the fit between the product market and their modern runtime SaaS platform.