The Sofia-based e-commerce platform CloudCart raised € 500 000 in funding from the venture capital fund New Vision 3 (NV3). The money comes from public funding from the Bulgarian Fund of Funds, as well as private capital. The investment will be aimed at market expansion in Europe. In return for the investment, NV3 acquires a minority stake.
CloudCart AD was founded in Sofia in 2016. The company develops the e-commerce software CloudCart which is an intuitive software for entrepreneurs who want to transfer their business quickly and easily online. Merchants can build their stores on the platform for free and sell free of charge up to their first BGN 1000 in turnover.
CloudCart has over 2000 active paid merchants in nearly 100 countries around the world, who, in turn, sell to end customers in 200 countries. CloudCart stores have reached 35 million unique visitors and over 3 million deals totaling BGN 130 million. During the COVID-19 lockdown, over 1,200 small and large businesses have managed to quickly bring their business online with CloudCart’s “Go through the crisis. Go online” campaign.In 2019, CloudCart ranked in the Top 3 of the prestigious Newsweek Best Business Tools ranking in the category “eCommerce Software”, along with some of the most popular international e-commerce platforms like Magento, Shopify, and BigCommerce.