The US IT service provider Joor has received an additional financial injection and now wants to further expand its offering.
As part of the latest financing round led by investment firms Brightwood Capital and Tamarix Capital Partners, in which existing investors Macquarie Capital, Battery Ventures and Canaan Partners also participated, the company raised $25 million (24 million euros), said Joor on Tuesday with.
The company, which claims to operate the world’s leading digital wholesale platform in the fashion industry, wants to use the fresh money to, among other things, improve its Joor Pay payment system and expand its presence in categories such as footwear, sports and outdoor.
Joor currently brings together more than 14,000 international brands and 600,000 buyers from 150 countries on its B2B platform. The company’s exclusive partners include luxury fashion groups such as LVMH, Richemont and Tapestry as well as well-known retailers such as Neiman Marcus, Shopbop, Printemps and Harrods.