Financial tech company NuOrder secures $45 million in investment for its B2B e-commerce platform
NuOrder, a business-to-business e-commerce platform, has recently secured $45 million in funding from investors such as Brighton Park Capital, Imaginary Ventures, and others. This investment will be primarily used to expand and enhance NuOrder's commerce, payments, data, finance, and discovery platforms that connect brands and retailers.
With this capital injection, NuOrder aims to further monetize and enhance its integrated B2B commerce and payments platform. The goal is to unify point-of-sale and payments solutions, creating a seamless experience for merchants and retailers.
The funding will also help develop advanced data analytics and finance services. These services will provide brands and retailers with better insights and financial tools to optimize decision-making and cash flow management.
NuOrder intends to improve technology infrastructure and expand product discovery features. This will streamline how retailers find and connect with brands efficiently, facilitating better market reach and product assortment.
Strategic initiatives include partnerships to broaden payments functionality, such as the recent collaboration with Spreedly. The platform will also expand its scalability, security, and AI-driven capabilities to maintain competitiveness and meet evolving market demands.
NuOrder's expansion into the European market will be aided by the enlistment of Natalie Massenet, co-founder and managing partner of Imaginary Ventures and founder of Net-A-Porter, who will serve as a board member and strategic partner. Mark Dzialga, managing partner of Brighton Park Capital, will also join NuOrder's board to aid in the startup's international growth, particularly in payments and online marketplaces.
The new capital will allow NuOrder to accelerate its vision with key investments in product and engineering. The company's growth over the past twelve months, a spike attributed to the COVID-19 pandemic, has been impressive, with NuOrder growing by 125%.
Notable partners of NuOrder include Saks Fifth Avenue, Bloomingdale's, and Nordstrom, who use the NuOrder platform for all their buying and selling. However, some well-known brands like Under Armour and Nike have decided to exit between 2,000 and 3,000 wholesale doors and close accounts with certain retailers.
Retailers are facing a challenging holiday season due to price-conscious shoppers and ever-changing tariffs. NuOrder's goal is to deliver innovation to brands and retailers globally, aiming to make the process of purchasing, payments, data-driven decisions, and discovery more efficient and seamless.
Olivia Skuza, co-founder and co-CEO of NuOrder, stated that it's a pivotal time for the industry and NuOrder's goal is to deliver innovation to brands and retailers globally.
With the recent rollout of its wholesale payment service in late January and the new funding, NuOrder is poised to make significant strides in the digital commerce ecosystem. The company's focus on improving the connections between brands and retailers will undoubtedly have a positive impact on the industry as a whole.
- Olivia Skuza, co-founder and co-CEO of NuOrder, believes this is a pivotal time for the industry, with the company aiming to deliver innovation in finance, payments, data-driven decisions, and product discovery to brands and retailers globally.
- After securing $45 million in funding from investors such as Brighton Park Capital, Imaginary Ventures, and others, NuOrder plans to use the capital to improve its technology infrastructure and expand product discovery features, aiming to streamline connections between retailers and brands.
- As part of its expansion, NuOrder will collaborate with Evan Schreiber, co-founder and CEO of Spreedly, to broaden payments functionality, enhancing the platform's scalability, security, and AI-driven capabilities to meet market demands.
- In addition to technology enhancements, NuOrder aims to develop advanced data analytics and finance services to provide brands and retailers with better insights and financial tools, optimizing decision-making and cash flow management.
- The digital commerce ecosystem is set for significant changes as NuOrder intensifies its focus on fostering strong connections between brands and retailers, while creating a seamless experience for merchants and retailers through its integrated B2B commerce and payments platform.
