Berlin-Based Magaloop Nets €9 Million For Its App-Based Ordering Platform

May 13, 2022 | 2 minutes read

Magaloop with its digital tool that ensures fast and efficient ordering processes ropes funding of €9 million.

After Qawafel , another B2B marketplace MagaLoop for its app-based ordering platform has landed investment of €9 million. In a Series A funding the startup witnessed participation from prominent investors like Market One Capital, FoodLabs, Redalpine Capital, Bitburger Ventures, Fuse Venture Partners,Hesta Investments and Créateurs de Convivialité Ventures.

Founded in 2018 by Uwe Hölzer and Michael Högemann, the startup aims to strengthen its system by doing structural alterations. Especially to facilitate the small and independent retailers. As  Uwe Hölzer, co-founder, MagaLoop said:

-“With the new round of financing, we can continue to drive and specifically shape the structural change in the impulse channel aiming for sustainably strengthening the competitiveness and future viability of the small, independent retailers.”-

b2b Magaloop
MagaLoop App. Image Credits: gruender.de

Furthermore, the startup aims to expand but right now the app is working tirelessly to digitize the retailer market. Plus put halt to the inefficient and outdated ordering process.

As its fast app connects retailers such as convenience stores, bakeries, gas stations, and late-night grocery stores to suppliers. It enables the customers to order everything from chewing gums to drinks via one tap. In furtherance, the wholesalers and FMCG manufacturers can also benefit from the solution by gaining access to the retailer network as well as in-depth data on the flow of goods.

The marketplace has been growing rapidly  because of systematic B2B ecommerce facilities.  As it reached the market share of 15% in Germany.

Thus showing an accelerated growth last year it has now 4000 active merchants with an annual order volume of €100 million.

No doubt, the startup with its growth is bound to see more growth. As Patrick Huber, general partner, FoodLabs added:

-“We see great momentum for further expansion of MagaLoop’s business, enabling even more independent retailers to digitise and run their business more efficiently in a highly competitive space.”-