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Euro Ventures - Thursday, November 26, 2009

eCommera endears ePlanet, entrusted £1.3M

UK-based eCommerca has attracted £1.3M ($2.14M) from ePlanet in the latest round of funding. With this round, £6M ($9.9M) funding has poured into eCommera, reiterating it as the best funded ecommerce providers in Europe. This latest injection comes two months after an investment group led by growth capital investor, Frog Capital in conjunction with West Coast Capital and GP Bullhound put their money, £5M ($8.2M) to be exact, on eCommera.

Funding will go towards driving the geographic expansion of eCommera with an initial focus on Europe. eCommera which helps large retailers like Asda and House of Fraser to run profitable online retail operations, was founded by Michael Ross, founder of highly successful online fashion retailer Figleaves.com, and ex-BT marketing director, Andrew McGregor in 2007. eCommera today serves over 20 major retailers, and has over 70 staff, many of whom are veterans from the e-commerce industry from companies like Arcadia, Tesco, Fish 4, Dell and Harrods.

ePlanet has a successful track record of investing in successful, growing tech companies, including Baidu, the leading Chinese search engine, and Skype. Dennis Atkinson, ePlanet partner strongly believes that eCommera's ecommerce dashboard, CoreTrader with enterprise class Software as a Service (SaaS) platform helps large global retailers grow without the distraction and high cost of managing technology and make profits quickly.

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By Raghuraman R