Demand for solar products and energy storage in the Inxeption Marketplace drove annual run rate revenue in Q4 from $220 million to $300 million.
CUPERTINO, Calif., Jan. 25, 2023 /PRNewswire-PRWeb/ -- Inxeption, the leader in Industrial Commerce, achieved more than 200 percent growth while surpassing a $300 million revenue run rate in 2022. During the same period, Inxeption handled in excess of $1 billion in gross merchandise value through its marketplace and infrastructure channels.
"The Inxeption marketplace is disrupting the way that industrial commerce transacts globally. We began connecting industrial buyers with a wide array of products on January 1, 2022. A year later, our marketplace transactions account for the majority of our business," said Inxeption co-founder and CEO Farzad Dibachi.
In Q4, demand for solar products and energy storage in the Inxeption Marketplace drove annual run rate revenue from $220 million to $300 million, as customer marketplace transactions exceeded 200 percent growth. This market is forecasted to continue rapid growth: The Solar Energy Industries Association expects average annual solar growth of 21 percent for the next four years, and industry analysts predict a 7 percent annual uptick in demand for energy storage systems.
To optimize global manufacturing, Inxeption began an international expansion in 2022 with a launch of dedicated operations in Frankfurt. The company attributed more than 20 percent of total infrastructure revenues during Q4 to international customers.
"We have seen revenues from our international supply chain business continue to grow exponentially, and continuing that trajectory will be a major focus for us in the coming year," Dibachi added. "With regard to profitability, we are near breakeven, a stunning feat for a company that just celebrated its fifth anniversary in October."
Further, Inxeption's financial services solution proved a significant driver of revenue growth in Q4. With marketplace purchases, Inxeption offers buyers financing at generous payment terms with instant qualification and early-pay discounts. During Q4, more than 50 percent of marketplace transactions included financing.
About Inxeption
Inxeption is the leading technology platform digitizing the global Industrial Commerce value chain. We are advocates for our ecosystem of suppliers and buyers, enabling them to Do Business Better.
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Media Contact
Jon Ross, Inxeption, 408-461-5275, [email protected]
SOURCE Inxeption
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