Image: Concept store Gekaapt Amsterdam
Two years ago, we started Orderchamp with the belief that the wholesale procurement model is inefficient and outdated, proving it difficult for brands to find the right sales channels, and for retailers to discover unique products to empower local communities. We set ourselves on a mission to reimagine wholesale by bringing independent retailers and brands together in a digital marketplace to provide unique merchandise for every store. And what a start has it been.
Despite it being a tough year for the retail community, thousands of retailers are using the Orderchamp platform on a daily basis to buy from more than 1,800 European brands. Brands in turn gain access to 30,000 retailers from all over Europe. The resilience we have seen in the market is simply incredible. We improved our proposition by offering favorable purchasing conditions, such as low minimums, 60-day payment terms and free shipping, and supported thousands of independent retailers in times of crisis. We are grateful to our growing community for their trust and hope to continue to exceed their expectations. Now it’s time to further build on the foundation we have built in the last two years.
We’re incredibly proud to announce we have raised a $20m investment led by Prime Ventures, to support us in our mission. We are excited to work with Prime Ventures, who previously invested in TakeAway.com and Meero, amongst others, and are a perfect fit for Orderchamp in the current stage. Prime also counts several other marquee startups, scale-ups and exits in their portfolio, such as Greetz, eBuddy, Mendix, GlobalCollect, iwoca, and Terrapay. Thijs Emondts, former general manager at Uber in their hyper-growth stage, will join our Supervisory Board.
According to Thijs Emondts of Prime Ventures, Orderchamp has a big role to play in the further digitization of retail."Traditional wholesale is very fragmented and not very innovative. Through its superior technology such as data-driven recommendations, a unique assortment and a smart go-to-market strategy, Orderchamp offers both retailers and brands a unique customer experience. We are very impressed with Orderchamp's team, its explosive growth and high customer retention. Orderchamp solves a big problem for both customer groups. I look forward to our collaboration as they further strengthen their position in Europe and lead the digital revolution in procurement.“
We will use this additional capital to increase our international footprint, improve the digital purchasing experience and further develop our powerful technology to delight our customers even more. To make this a reality, we are looking for exceptional and diverse talent to join us, more details can be found on our career page.
In order to stand out from the crowd and compete with the Amazons of this world, we help our retailers discover unique brands that meet our strict quality criteria and share values - such as handmade, eco-friendly, organic and sustainable. That is why we pursue adding dozens of new brands with thousands of unique products on a daily basis, rather than weekly, which can be purchased quickly and easily by our retailers.
Based on sales data of tens of thousands of retailers, we can better predict whether a product will sell in your store or webshop. We will continue to improve our matching algorithm to create tailored recommendations for our retailers. We have also recently launched a new dashboard for brands, providing extra insights and suggestions to improve their success-rate on the platform. And we will continue to integrate our backend with other systems, to create a seamless and fluent experience.
Last, we are constantly improving our wholesale terms. We will provide more access to capital with our 60-day payment terms and continue to offer free shipping, while integrating with all main shipping carriers in Europe. Our focus will always be on delivering the best prices and margins - for both parties. We are about to make some big announcements on these terms, so stay tuned.
Using our state-of-the-art referral programs, we enable both sides of our community to grow and support each other. A brand referral program, where retailers can refer their favourite brands, and a retailer referral program, where brands can invite their retailers to benefit from all the wholesale terms we have to offer. Both these programs help our community of retailers and brands expand their reach and scale their business. We invite you to become part of our community. Join the movement now and sign up as brand or retailer!
We are already the platform of choice in five key European markets and serve retailers and brands from all over Europe. Thanks to the latest investment, in the coming months, we will strengthen our leadership position and further expand to new markets allowing for more choice on the platform for retailers and more new relationships for our brands to foster. Our international strategy plays a crucial role in our mission to improve wholesale and allow retailers and brands to thrive. We are optimistic about the future of retail in Europe and believe in the “shop local” movement despite the headwinds we have all experienced this past year.
We are thankful for both the great team of people behind the scenes at Orderchamp who have helped us come this far and our partner brands and retailers who have joined us on this journey.