commercetools has announced a $140m investment completing its series C funding round. Led by global tech investor Accel, alongside existing investors Insight Partners and REWE Group, the capital raised will fuel the company’s global expansion and allow commercetools to continue to help enterprises embrace the modern way of building their ecommerce environments. commercetools plans to use the capital increase to expand sales and marketing efforts in North America, Europe, and APAC, which will ultimately help more businesses eliminate legacy commerce platforms and embrace the modern way of building a commerce environment. The funding will also be used to extend the commercetools product portfolio and expand its partner ecosystem. This includes investing in third-party channel relationships that will make technology integrations and extensions with commercetools even easier.
Change, a cryptocurrency platform for retail investors, has announced that it has made its first major expansion outside Europe with a new office in Singapore. Change, which recently recorded an increase of over 700% in product revenue since the end of 2020, plans to use its presence in Singapore as a launchpad to other global markets. In recognition of its growth and approach, Change has also been inducted into Estonia’s Startup Wall of Fame, joining the likes of Skype and Wise as one of Estonia’s most exciting tech companies.