Latvia-based ecommerce platform Sell.xyz has raised €1.5M pre-seed in the round led by Aigars Kesenfelds. The platform is a global marketplace that connects merchants and creators with dropshipping and wholesale suppliers. With the capital, Riga-based company will use the capital to reach more lands with its cosmetics and supplements lines. Additionally, it will be able to come up with a new category for the lineup.
Sell.xyz raises 1.5M EUR to kick-start an “Everything on Demand” dropshipping platform
Sell.xyz has raised 1.5M EUR to create a one-stop shop for on-demand customized product fulfillment. The platform has launched with three initial on demand dropshipping categories – apparel, cosmetics and supplements. Sell.xyz connects retailers with suppliers to offer a broad range of products with automatic fulfillment.
The startup was founded and led by serial entrepreneur Reinis Vaivars who has previously founded fintech Eleving Consumer Finance, scaled to 150M EUR annual revenue, and TweetDeleter.com, the Twitterverse’s first-choice tweet deleting app.
“I believe that on-demand is the future of retail. As sustainability continues to play an increasingly large factor in our changing landscape, on-demand retail is one of the primary approaches we can use to limit overproduction – one of the key culprits behind what is filling our landfills at record rates.
With Sell.xyz we’re unlocking stagnated product categories, like cosmetics, to not only become more sustainably manufactured, but also remove barriers to entry to anyone who wants to launch their own cosmetics line, without the investment, minimum order quantities, stock management, and shipping challenges.”- Reinis Vaivars, Founder and CEO of Sell.xyz
Latvia has already become known as the heart of the Print on Demand industry with proven success with startups such as Printful and Printify. Coming from the same background, Sell.xyz aims to expand the global on-demand offering, to bring custom lines of various different products to ecommerce entrepreneurs.
The funding round is led by Aigars Kesenfelds, founding investor of various successful fintech ventures such as Eleving Group, Mintos, and Sunfinance, named by the Financial Times as Europe’s second-fastest growing company.
Sell.xyz makes it easy for anyone to launch their own cosmetics or supplement line in minutes with the product label and packaging design software. For automated fulfillment, the platform currently integrates with Shopify, WooCommerce and Wix, with BigCommerce, Instagram, and Etsy coming soon.
The platform is used by ecommerce stores already using Print on Demand dropshipping services that are looking to expand their product ranges, as well as influencers and creators, who are looking to develop their custom product lines to monetize their audiences. With no upfront costs or minimum order quantities, it offers a low-risk method to launch brand-enhancing product lines.
On-demand cosmetics are currently available in the EU and UK, and on-demand supplements are available in the USA. The platform plans to have both lines available globally within 2 months.
Sell.xyz was founded in January of 2022 and is based in Riga, Latvia. The startup has fulfillment centers in Riga and South Carolina.
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