Veeqo raises £3.3m Series A from Octopus Investments to fund US expansion
The retail automation platform has secured funding led by Octopus Investments to accelerate its international growth.
Veeqo provides a retail automation platform that enables merchants to synchronise inventory across multiple sales channels and manage order fulfilment. The company serves various retail brands and handles millions of shipments annually.
Veeqo has secured £3.3m in a Series A investment led by Octopus Investments. The round also drew participation from existing backers Daniel McPherson, Tom Singh, and crowdfunding platform Seedrs. The company will direct the capital toward strengthening its domestic market share and building out a team in the United States.
The platform currently underpins millions of shipments annually for brands such as Brompton Bikes and Maidenhead Aquatics. Operating from bases including Swansea and London, the firm plans to establish its North American presence later this year.
From the founder
"I’m passionate about building a global tech company from our home here in Wales. We’re the first Welsh company to raise a growth investment of this size, and it’s fantastic to be working with Octopus – one of the most well-regarded investment firms in London. With the High Street facing increasing challenges day-by-day, retailers selling omnichannel have an opportunity to grow at an astonishing rate and Veeqo can help them achieve that goal."
Matt Warren
CEO and Founder at Veeqo
Investor perspective
"Veeqo has a very exciting proposition and we’re delighted to be able to support this next phase of growth. The platform Matt and his team have created is market leading, providing SME ecommerce retailers with a strong back-end platform to manage their orders. As a result, Veeqo is positioned well to dominate the UK market and expand further into the USA. We look forward to working with the team and helping them deliver on their ambitious growth plans."
Richard Court
Head of Development Capital, Octopus Investments
Use of funds
- 01Expand into international markets
