Dawn Capital Leads $86 Million Series B in Qogita to Revolutionize Wholesale E-Commerce

UK-based wholesale E-commerce marketplace startup, Qogita, raised $86 million in a Series B funding round, led by Dawn Capital with participation from Accel Partners, Bessemer Venture Partners and LocalGlobe.

Co-founded by Israeli father and son, Yaniv Toledano and Danny Toledano, Qogita was conceived to simplify and streamline the wholesale procurement process for small and medium-sized e-commerce retailers. The platform, akin to consumer giants like Amazon, offers an all-in-one solution for product procurement, eliminating the need for cumbersome negotiations and complex supply chain management.

Their platform addresses the complexities of the e-commerce market, valued at $6 trillion, characterized by fragmentation and lacking digitization in Europe. Qogita's algorithm-based system matches buyer carts to the optimal mix of sellers, ensuring cost-effective and efficient transactions. It addresses the dynamic nature of the wholesale market, where prices, quantities, and other parameters are in constant flux. The platform connects over 10,000 buyers and 300 sellers across Europe, the UK, and the US.

For sellers, and unlike other platforms that charge significant listing rates, the startup allows sellers to maximize sales without incurring extra costs.

They currently feature 2 million available products (largely in beauty and health), up to 90-day payment terms, and low minimum orders starting from €1k.

This latest funding round brings the startup's total funding raised to $126 million across three rounds, with the last round being led by Accel Partners in 2021.