Now, TechCrunch reports on a funding round for Flow:
A startup called Flow wants to make it easier for companies to sell their products in different geographies. To extend its platform to even more e-commerce sellers, the company has raised some funding from Forerunner Ventures and Fung Capital. […]
Logistics is the next thing Flow set out to solve, and it’s built out a network of cost-efficient and rapid shipping options for each region it ships to. In addition, the company has an engine to customs, duties and taxes associated with cross-border sales.
Interesting here is of course that Forerunner Ventures, the VC firm that made waves last year with two big exits (Jet.com and Dollar Shave Club), is on board:
By adding Forerunner and Fung Capital, the company hopes to capitalize on those firm’s e-commerce connections. Forerunner, of course, has invested in a number of online retailers and CPG brands, including Dollar Shave Club, Jet.com, Birchbox, Bonobos, and Warby Parker. Meanwhile, Fung Capital is the investment arm of Hong Kong’s Fung family, which controls a number of e-commerce and omnichannel retail brands.
From the press release:
“The team at Flow has created a powerful platform designed to revolutionize the global e-commerce process which has largely remained cumbersome and intimidating for both merchants and consumers,” said Kirsten Green, founder and managing director of Forerunner Ventures, which counts Birchbox, Bonobos and Warby Parker among its portfolio companies and was an investor in both Jet.com and Dollar Shave Club. “By removing the challenges typically associated with international e-commerce, Flow is well-positioned to be an industry game changer and reshape global commerce,” added John Seung, Managing Partner at Fung Capital, a venture capital firm focused on investing in retail technology startups such as Olapic, HookLogic, Tulip and Celect.
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