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Startup Retailys is building “European Shopify“ and has now secured additional $2 million

Thanks to CzechInvest founded its second foreign branch

Startup Retailys is building “European Shopify“ and has now secured additional $2 million Source: Dominik Kučera

Retailys, a company developing eponymous e-commerce omnichannel system facilitating commercial expansion throughout Europe, has in May completed an investment round raising 2 million USD from a group of European investors and has had a yearly growth of 220%.

According to a market research company eMarketer, the global e-commerce turnover has reached the value 4.2 billion USD in 2020, which is a yearly increase of more than 25%. The interest of many retailers in expanding throughout Europe grows even faster, however it is often met with obstacles having to do with adjusting to various local conditions in different regions and creating online stores aimed at foreign countries. To overcome these obstacles is the purpose of Retailys, a company with roots in the Czech Republic and Singapore, a company whose mission it is to enable retailers to sell all over Europe. Tens of millions of dollars’ worth of goods is currently sold each month through the online stores and other sales channels managed by Retailys and given the current rate of growth the total turnover on the platform should surpass one billion dollars in the next year.

In the past three years, Retailys has been quickly growing its position on the market. Just after its inception the project was chosen into an acceleration program in Singapore, run by a governmental agency CzechInvest. Singapore is where Retailys founded its second foreign branch, the first being in London, and it is currently also active in Germany. The company has won several awards, such as the Digital company of the year award in 2019, awarded by the Association of Small and Medium-sized Enterprises. Moreover, hundreds of European companies have already participated in seminars and courses on the topic of international e-commerce, which Retailys organises, either alone or in cooperation with other organisations.