Ecommerce and marketing consultancy Entropy, is our exclusive partner for the new series of Ecommerce Hero on ECA
Who is your ecommerce hero?
Anil Stocker, CEO and Co-Founder of MarketFinance, is my ecommerce hero.
What has he/she done to win hero status in your eyes?
His organisation helped provide loans to lots of SMBs and ecommerce players during the time of uncertainty and crisis when many banks were shut to inject capital into fast-growing companies but without the typical profile a classic bank requires.
How has his heroism helped drive ecommerce?
Using financial and ecommerce data and the credit score model MarketFinance built, they managed to provide funding in a very quick fashion thus rescuing a lot of companies who were in trouble when the pandemic hit.
What are the biggest challenges in ecommerce we need another hero to solve?
The biggest challenges in ecommerce are around payment processing. While lots of players have been doing a lot of innovation, there are way too many industries who are excluded from leading payment processing companies because the compliance requirement is too high and standard models and processes are not made to deal with high risk industries such as health, gaming, crypto and adult industries.
What are the main issues you have faced during the pandemic to reach your goals in eCommerce?
For our marketplace, one big issue was our 3PL partner was extremely understaffed so a lot of our orders were sent out later than expected, in particular international orders.
What did you do to overcome those issues?
We have set up a second 3PL for the EU in Poland now and are looking to add one more warehouse in Germany in the near future. That way the UK based warehouse only has to focus on UK orders and EU orders are covered from the EU locations. Same for the expansion in the US where we will work with US 3PLs.