BRISBANE, Calif., Jan. 12, 2022 /PRNewswire-PRWeb/ -- Inxeption, the Industrial Commerce SuperApp, today announced $275 million in new funding made up of a $125 million Series E financing round and $150 million in new debt capital. The Series E is led by Schonfeld Strategic Advisors with participation from the Bank of Montreal (BMO) and existing investors Coatue and others. Additionally, BMO and another lender will provide senior and junior debt facilities totaling $150 million to further accelerate Marketplace and Inxeption Financial. This funding round is expected to close by the end of February and values Inxeption at approximately $3 billion, more than 4x the last round that closed in early 2021.
"We had a phenomenal 2021 with accelerating momentum. Revenues grew over 400%, we crossed over $100 million in annualized revenues, we have a rapidly growing customer base of over 1,000 customers, and we successfully launched the Inxeption Marketplace and Inxeption Financial Services. As we enter our fifth year of doing business, we couldn't be more excited about where Inxeption is going next. What we have believed from day one and continue to get more validation of is that the TAM is truly massive," said Farzad Dibachi, Co-Founder and CEO of Inxeption. "With trillions of dollars of commerce activity annually and hundreds of thousands of potential customers in the United States alone, Industrial and manufacturing businesses are underserved digitally and are looking for an advocate. This latest funding will be used to support our growing platform and ecosystem so that we can be the best advocates for our customers."
"Industrial and supply chain businesses have had unique challenges for decades that are only becoming more acute in today's environment with logistics and trade disruptions. We believe that Inxeption's platform is enabling an on-demand and digital experience to provide capital, data, products, and services in one place for Industrial businesses," said Mike Kuchmek, Global Head of Equity Capital Markets at Schonfeld. "We are excited to partner with the Inxeption team as they continue to transform Industrial commerce."
"The opportunity to provide financial services digitally and real time to manufacturing businesses and their industrial consumers is very exciting and aligns with BMO's Purpose to Boldly Grow the Good, in business and in life," said Eric Benedict, Managing Director and Co-Head of Global Equity Capital Markets at BMO. "We look forward to partnering with Inxeption in multiple ways to bring our capital and expertise to solve these companies' pressing financial challenges."
Inxeption is the Industrial Commerce SuperApp. Its secure and scalable cloud-based digital commerce platform brings Capital, Data, Products, and Services on-demand for Industrial and supply chain businesses. Companies of any size in any industry can drive more sales, gain operational visibility, and realize cost savings. Inxeption Commerce Partners enjoy access to sell products on the Inxeption B2B marketplace and to develop new online commerce channels, as well as valuable applications that simplify and streamline logistics and other operations. Inxeption's challenge to the Industrial sector is: Let's Do Business Better.
Miriam Tremelling, Inxeption, 415-595-5867, [email protected]