Convictional, a Toronto, Canada-based supplier enablement platform for retailers and distributors to power drop ship, marketplace and wholesale business models, raised $6.7M in Series A funding.
The round was led by Lachy Groom, who led Convictional’s 2019 seed round out of Y Combinator, with participation from Claire Johnson, COO of Stripe; Scott Belsky, Chief Product Officer of Adobe; Dave Cheesewright, former CEO of Walmart International; Ram Shriram, former Board Member, Alphabet; WndrCo; Zigg Capital, and other leading operators.
The company intends to use the funds to invest in research and development in its supplier enablement platform and in the growth of its network of connected suppliers and retailers.
Co-founded by Roger Kirkness and Chris Grouchy, who are both former Shopify Plus team members who helped launch the company’s wholesale channel, Convictional provides a technology and network that allows enterprise retailers to go to market with a wide range of new brands and products.
Some of customers have launched new categories and curated their own digital B2C and B2B marketplaces. At the same time, Convictional allows direct-to-consumer (DTC) brands to enter into B2B relationships with enterprise retailers without the cost and complexity of legacy EDI.
Enterprise retailers such as Staples, Equinox, Scandiborn, and Harry Rosen use the company’s infrastructure to trade with third-party suppliers, to expand their online and in-store assortments, reduce inventory risk, and onboard new suppliers faster.
FinSMEs
24/09/2021