Melbourne-based startup Marketplacer, which allows users to easily create their own tailored marketplace and operates five of its own, has raised $11 million in a funding round led by Gerry Ryan, with participation from other private investors.
The funding, which comes after a $10 million raise last July, will be used to push global expansion, with the startup looking to focus on global marketing, product development, and opportunities for acquisitions and partnerships. The company has opened an office in Belgium, and is now set to open new locations in England and Ireland.
Since the last raise, the startup reports that it has seen triple digit revenue growth, having upped the number of its own marketplaces to five with the launch of new sport and entertainment marketplace Tixstar. These five marketplaces receive 3 million visitors per month, an increase of over 133 percent from last July.
These marketplaces are delivering over $600 million in leads to more than 2,200 retailers, with over 1,170 signing on over the last year.
Jason Wyatt, managing director of Marketplacer said, “We have proven business model that is tapping into companies’ needs to create global marketplaces in a short space of time. This has been demonstrated by our substantial growth over the past 12 months, and this next round of funding will allow us to drive growth even further, tapping into new customers and developing marketplaces for any product, anywhere in the world.”
Despite the funding, however, Wyatt said the 12 month vision for the company hasn’t changed, with the aim still to grow the business through global partnerships.
“One of our most successful marketplaces, BikeExchange, took five years to grow 400 retail stores and it has taken BikeExchange USA just over a year to do the same. This demonstrates that we were successful in our vision in lieu of the last capital raising and we hope to accelerate this over the coming year,” he said.
Marketplacer was originally launched as BikeExchange, a site for people to buy and sell bike-related products, by Wyatt and childhood friend Sam Salter in 2007. House of Home and TiniTrader were spun out soon after.
It relaunched as Marketplacer after closing its funding round last year. This round saw Ryan, managing director of Jayco, acquire a 50 percent stake in the startup’s outdoor product marketplace Outdoria and join the Marketplacer board.
The marketplace solution was also launched at this time, billed as a fully hosted ‘plug and play’ platform that allows clients to create their own customised niche marketplaces, where they can bring together buyers and sellers.
Image: Marketplacer Team. Source: Supplied.