US-based digital wholesale management platform Joor has raised $46m in a Series D funding round to accelerate its expansion.
JOOR will use the funding to increase its investment in platform innovation, payments and financing, as well as supporting its ongoing global and vertical expansion strategy.
JOOR CEO Kristin Savilia said: “JOOR’s singular mission is to digitally enable and transform our industry. We are pleased to have such great partners to support us in this mission as we embark on our next stage of growth.
“This new capital enables us to accelerate innovation as an independent company and to continue to provide industry leading solutions in service of our broad global network of brands and retailers.”
Founded in 2010, JOOR is currently home to 325,000 curated retailers and more than 12,500 brands. The company processes more than $1.5bn in wholesale transactions each month.
Following the latest funding, the company has inducted Macquarie Capital Principal Finance managing director Anand Subramanian into its board of directors.
Subramanian said: “We continue to be impressed by the capabilities of JOOR’s technology platform, coupled with its industry leading network of brands and retailers.
“This investment reflects belief in JOOR’s talented team, and we see significant growth for JOOR as they expand their platform to offer payments and financing alternatives to their global client base.”
Earlier this month, the company expanded its presence in Asia by opening its first Chinese office in downtown Shanghai. It already operates in Japan and Australia.