The Belgian e-commerce platform Storesquare receives €5M in fresh capital from KBC and Roularta to fuel its further growth and to compete with online platforms as Bol.com, Amazon and Alibaba.
Established more than a year ago, when KBC, Unizo and Roularta have joined forces and created a digital marketplace for Belgian businesses. Storesquare offers local retailers and SMEs in any sector an easy, affordable, all-in solution for doing e-commerce.
It is known that last year, over 1600 independent retailers sold a total of more than €1M of products through Storesquare. Still, Xavier Bouckaert, CEO of Roularta, the company that holds 70% of the shares of Storesquare, forecasts that the e-commerce platform will reach the break-even in 2020.
Meanwhile, the company continues to grow fast.
So, with this new capital injection, Storesquare wants to compete with online platforms as Bol.com, Amazon and Alibaba, that also started as the webstores and transformed into popular platforms for external retailers. Over the last few months, Storesquare has already improved its platform and will continue of winning the market share.