MagaLoop, Berlin, Germany-based digital B2B marketplace, raised €9m in Series A funding.
TheRound was led by existing investors Market One CapitalFoodLabs with participation from existing investors Redalpine Capital Bitburger VenturesInvestors looking for new opportunities Fuse Venture Partners, Créateurs de Convivialité Ventures Hesta Investments.
TheThe company plans to use the funds for further expansion of its network of independent wholesalers/retailers and platform expansions.
Founded in2018 by Uwe Hölzer and Michael Högemann, MagaLoopProvides an app-based ordering platform that connects independent retailers like convenience stores, bakeries and gas station stores with suppliers. TheApp allows customers order everything from chewing gums, to drinks, all in one tap ItSmart features include a barcode scanner that allows you to reorder items and a complete order history.
MagaLoop currently has more than 4000 active merchants with an order volume of over €100 million annually.
ItCurrently, there are approximately 70 employees.