Amazon’s Rival Crowdfox Raises €10 Million in Funding

Crowdfox is an innovative B2B and B2C marketplace that lets merchants sell for free while customers can buy products for the best price. The startup recently raised €10 million in investment.

Cologne-based Crowdfox GmbH raised €10 million in funding. On 19 December 2018, a financing round with two new family offices for 5 million euros was closed. In addition, 4 million euros of convertible loans were converted into equity. They were largely committed by existing shareholders, thereby expressing their confidence. Another 1 million euros came from an existing shareholder loan.

The startup intends to use the funds for scaling and further expansion of its real-time comparison portal Crowdfox Professional.

Since 2014, the company has been developing and operating innovative comparison portals like for business customers and for end users. With its unique technology, the B2B portal Crowdfox Professional revolutionizes complex purchasing processes in DAX corporations and other large enterprises.Crowdfox comparison markeplace portal mockup on an iMac screen.

The startup from cologne offers its customers a huge range of over 130 million best-price offers from audited suppliers in real time. Crowdfox developed the unique Matching Number UTIN® (Unique Trade Item Number) allowing to identify more than 18 million item.

The company will continue to seize growth opportunities by internationalizing its business with major global customers. In addition, the product range will not only include C-items in future.

The company plans to expand Crowdfox’s price comparison services and include B and A items that are highly relevant to their customers.

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Magdalena is writing about innovations and recent investments in the startup world. Originally coming from Slovakia, Magdalena has been writing for one of the largest consumer electronics retailers in Europe and has now immersed herself into the world of startups. Her educational background in Finance and Business Informatics has given her a broad base from which to approach many topics. In addition to that, she is a tech geek, passionate photographer and a lifelong dog lover.

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