The press release said this round was “a testament to the acceleration of digital buying and selling over the past twelve months and signals future growth opportunities that exist within the multi-trillion-dollar B2B market.”
The company, in existence since 2011, has been working on issues involving various industries like fashion, luxury, footwear, outdoor and sports. The company has seen 125 percent growth in the past year as businesses have needed to go digital to survive. Thirty percent of the gross merchandise volume (GMV) came from Europe, the release notes, and several big retailers, including Saks Fifth Avenue, Nordstrom and Bloomingdale’s, have done their buying and selling only through NuORDER.
“It’s a pivotal time for the industry and more important than ever for NuORDER to deliver innovation to brands and retailers globally to help them succeed. The new capital allows us to accelerate our vision with key investments in product and engineering, and we feel fortunate to have such a great set of partners championing and supporting our growth,” said Olivia Skuza, co-founder and co-CEO of NuORDER.
“At a time when the B2B commerce landscape is evolving rapidly, we remain focused and are in a position to execute on our core mission of setting the global standard for commerce, discovery and payments and delivering the industry with a best-in-class solution through a single platform,” added Heath Wells, co-founder and co-CEO of NuORDER.
Earlier this year, NuORDER unveiled its NuORDER Payments offering, which will let the company’s brands begin taking credit card payments aside from their wholesale platforms without needing to use a phone or a third party to process the payments. Wells said the idea was to bring B2B payments out of “the dark age” with more streamlined and efficient policies.