Prosus Ventures, the investment division of marketplace giant Prosus, has led a Series A funding round in Poland-based Merxu, an industrial marketplace focusing on the b-to-c segment. The marketplace trades goods such as chemicals, construction products, electrical goods, tools, and more.
The investment amount has been undisclosed. Investors Accel and Point Nine also participated in the round.
Merxu was founded in 2020 and serves thousands of small and medium-sized enterprises.
The investment aims to help Merxu expand services outside of Eastern and Central Europe, from its current markets Czech Republic, Estonia, Hungary, Lithuania, Poland, Romania and Slovakia, and into other European countries, starting with Germany. Funds will also be used to help expand the team and fund the platform’s integration of b-to-b payment functionality.
“Business owners and procurement managers are simply spending too much time finding professional and reliable sellers. Manufacturers on the other hand struggle to expand their businesses internationally, facing challenges with payments and logistics experience. We’ve seen the B2C space transition into a largely seamless experience today – one that is almost expected. merXu is looking to expand this accessibility and ease of purchasing to the B2B ecosystem in Europe. This new funding will allow us to accelerate our growth, while layering in new features with the European customer in mind,” Przemyslaw Budkowski, CEO and co-founder of Merxu, stated during the funding announcement.