Wholesale marketplace Qogita has successfully raised $86 million in a Series B funding round, led by Dawn Capital based in London. The e-commerce platform, targeting retailers in the health and beauty sectors, plans to utilize the funds to expand into additional categories.
The funding round also saw participation from existing investors such as Accel, Bessemer Venture Partners, and LocalGlobe, bringing Qogita’s total raised capital to €119 million.
Catering to SME e-commerce retailers seeking a comprehensive wholesale platform, Qogita is comparable to Faire.com in the U.S. (with $1.7 billion raised to date) and France’s Ankorstore (raising €365 million). The platform handles the end-to-end process, including shipping and delivery, providing an Amazon-like buying experience for time-stretched retailers. Additionally, Qogita offers a Buy Now, Pay Later (BNPL) platform to assist SMEs facing cash flow challenges.
Founded in 2021 by Yaniv Toledano and Danny Toledano (father and son, respectively), along with CEO Manolis Manassakis, a former director of EMEA operations at Uber, Qogita differentiated itself by pairing one buyer with multiple sellers. The platform breaks down orders into various factors such as stock availability, pricing, minimum quantities, fulfillment rates, and quality, making it challenging for buyers to replicate the platform’s value.
While acknowledging the challenges in the crowded B2B marketplace, Manassakis believes Qogita’s unique approach sets it apart. He emphasized the complexity of product procurement for small and medium-sized businesses in the $6 trillion e-commerce market and positioned Qogita as an all-in-one platform addressing the entire wholesale procurement process.
With the e-commerce sector rapidly digitizing, the demand for streamlined services for SME retailers is increasing. The health and beauty market alone is projected to reach $785 billion by 2025. The funding round reflects investor confidence in Qogita’s potential to become a digital enabler, bringing efficiency and transparency to the B2B wholesale market in Europe.
