merX, an online B2B trading platform for companies in Central and Eastern Europe, has announced an series A funding led by Prosus Ventures, with the participation of the existing investors Accel and Point Nine.
Founded in 2020 by Przemyslaw Budkowski, Tomasz Nowak and Sebastian Pietrowski, former CEO, COO and Development Manager of Allegro Group respectively, merXu is an international B2B platform for the industrial market operating in the Czech Republic, Estonia, Hungary, Lithuania, Poland, Romania and Slovakia.
The company serves thousands of small and medium-sized businesses, creating a secure business environment that connects buyers and sellers, for online products purchase.
The funding will be used for the next phase of the company’s development, planning the launch in new European countries, with priority given to its international impact on Germany.
Poland is Germany’s third largest business partner, and the Visegrad group – an economic alliance of four Central European countries: the Czech Republic, Hungary, Poland and Slovakia, all of which are members of the EU and NATO – will become Germany’s largest economic partner in 2020, surpassing China, generating exports of 286 billion euros.
merXu also plans to use the funding to integrate the functionality of B2B payments into its platform and strengthen its team. The company supports a wide range of companies in areas such as electrical equipment, lighting, tools, construction, industry and machinery manufacturing, providing them with an integrated platform for electronic B2B transactions on a national and international scale.
It should be noted that B2B e-commerce in Europe has grown by 7% year-on-year from 2013 to 2020. merXu is therefore going to benefit greatly from accelerating the transition of B2B marketplaces online, allowing companies and their suppliers to find each other and transact digitally.