Edinburgh e-commerce specialist secures £5.3m investment
An Edinburgh-based e-commerce analytics firm has secured a major £5.3m investment to further drive its international expansion.
e.fundamentals helps many of the world’s largest brand owners to ‘rigorously improve the sales and profit performance of their products on retailers’ and wholesalers’ websites.’
The investment will give the platform, which operates in 10 countries, the ability to deliver services in more key e-commerce regions and globally. This will include a launch in the US with a version of the e.fundamentals platform tailored to the needs of the American market.
e.fundamentals’ fund raise has been led by private equity house Maven Capital Partners and supported by long-term investment partners Downing Ventures and Scottish Enterprise.
The funding builds on an exceptional year for e.fundamentals which has thrived with a growing roster of clients – including Weetabix, McCain and Twinings – and ever-increasing market interest in the rapidly developing field of AI-powered ecommerce analytics.
e.fundamentals chief executive John Maltman said: “We’re delighted to have secured the support of Maven Capital alongside long-term partners Downing, Scottish Enterprise and our inspiring private backers. The investment gives us the financial resources to expand our business internationally. I’m particularly excited about the huge bank of experience and resources our institutional investors bring to the business.”
Maven Capital Partners Investment director Gareth Price said: “e.fundamentals has developed a sophisticated, yet highly intuitive, insights platform which is already playing an important part in developing and influencing the ecommerce sales and marketing strategies of many high-profile, blue-chip brands. The business is addressing a large and growing market, and its software has proven to deliver its clients a return on investment of at least 4x within one year. Maven is excited to help the senior management team achieve their ambitious growth plans by supporting the company with its continued expansion into the US and Europe.”
Downing Ventures investment director Richard Lewis said: “Downing initially invested in e.fundamentals back in 2017 and we are delighted to participate in this latest raise. They are a committed, professional and focused management team and we are excited to further support the business’s continued international expansion plans.”
Scottish Investment Bank director Kerry Sharp said: “It’s great to see e.fundamentals grow their delivery of ecommerce services at pace. This investment round will help their global expansion and we look forward to supporting them on their growth journey going forward.”