Germany-based e-commerce platform Crowdfox closed a €4.7m ($5.6m) series A round on Thursday led by business-to-business mail order company Takkt’s investment arm Takkt Beteiligungsgesellschaft (TBG).
The figure include a €2m convertible note, led by TBG in April 2017 with participation from unnamed backers.
Crowdfox operates a commission-free e-commerce platform for third-party sellers. The platform monitors prices on other marketplaces, enabling sellers to automatically adjust prices and providing an overview of how a seller compares to the rest of the market.
The marketplace offers both business-to-consumer and a business-to-business transactions.
The funding will support accelerated growth, building on a doubling of revenue for Crowdfox’s business-to-business offering during the last quarter.