Luxembourg-based e-commerce platform MarketLeap, formerly known as Gonuggets, is rewriting the rules of digital commerce. The company has just secured an additional €1.5 million in seed funding, bringing the total funding raised in the seed round to €2.6 million. Notable investors in this round include Notion Capital, Kima Ventures, Trezy and Finres, and Motier Ventures. Existing investors, including Luxembourg's Expon Capital, have also doubled down on their support.
MarketLeap is set to accelerate its technical development, introduce new service offerings, and expand its presence in the US while scaling up operations in the UK with these fresh funds. The company's mission is clear: to unlock the untapped potential of brands in the e-commerce marketplace.
Mamoun Benkirane, CEO and Co-founder of MarketLeap, explains the urgency for such a platform: "Currently, most brands reach only 0.2% of their total marketplace potential due to a lack of expertise, time, and money. They end up spending over 70% of their time managing their marketplace operations, accounting for less than 20% of their total revenue. MarketLeap helps brands break through their revenue ceilings on e-commerce marketplaces."
MarketLeap has integrated with various partners, including 3PLs and financial service providers, to manage the complexities of e-commerce operations. The company holds brands' inventory in its fully outsourced supply-chain network and offers better payment terms than traditional marketplaces.
As COO and Co-founder Mekki Mouaddeb explains, "MarketLeap holds brands' inventory in its fully outsourced supply-chain network while offering better payment terms than marketplaces. The company uniquely invests in partner brands, contributes to marketing expenses, optimizes listings, and supports various other initiatives."
Founded in 2022 by Mamoun Benkirane and Mekki Mouaddeb, both of whom are former employees of e-commerce giants Amazon and Jumia, MarketLeap has industry expertise at its core. The duo previously developed a successful e-commerce fashion marketplace that was acquired by a network company of the world's largest fashion retailer.
Today, MarketLeap aims to democratize e-commerce by enabling brands to unlock their potential reach and revenues while launching across new marketplaces worldwide. The company's AI-enabled operating system simplifies the complexities of selling on global e-commerce marketplaces, making expansion seamless, risk-free, and profitable from day one.
MarketLeap understands the challenge brands face in finding the right product-market fit in new markets. Investment in new markets is often fraught with uncertainty. MarketLeap's platform offers improved capital efficiency and the ability to reach new markets more efficiently and predictably. The company has already assisted brands in selling on marketplaces in over 30 countries and continues to expand into new channels and locations.
MarketLeap's innovative approach has earned it a diverse range of clients, including Nordgreen, Defunc, Edible Health, and Guggenheimer Coffee. Edible Health's COO, Jessika Nilsson, highlighted the impact of their partnership: "Partnering with MarketLeap is a significant milestone for us at Edible Health. It opens up tremendous opportunities for us to reach a wider audience and make a greater impact."