Friday Fundings

Friday Fundings: Profishop, Linktree, Getir

Friday Fundings: Profishop, Linktree, Getir

Profishop is a B2B ecommerce platform that sells products for businesses, especially those with industrial components. This includes things like office supplies as well as power tools and farming equipment. The company’s model involves working directly with manufacturers rather than wholesalers.

Tiger Global has invested $35 million dollars into the German startup, which now operates in 13 markets. The investment reportedly will be used to expand in Europe and beyond. Profishop says it cleared $100 million in sales last year with around 500,000 customers.

Linktree’s Latest Funding Round Brings Valuation to $1.3 Billion

Founded in 2016, Linktree aims to help content creators share links to various revenue streams on social media. The Australia-based company just announced a $110 million fundraising round, bringing its valuation to $1.3 billion. Index Ventures and Coatue Management lead the round.

Social media influencers seem to be the target market for Linktree. It counts TikTok, Selena Gomez, and Major League Baseball among its clients. The company says it’s grown from just seven employees in March 2020 to 230 today, with plans to hire another 300 or so this year across the US and Australia.

Instant Delivery Startup Getir Snags $768 Million Series E Round

After being founded in Turkey, Getir has grown and expanded across both the US and Europe. It’s an instant-delivery startup that boasts the ability to deliver your groceries within minutes. In many urban areas where the company operates, customers get their items around 20-40 minutes after ordering.

Getir has announced a new $768 million Series E funding round, bringing its total valuation to $11.8 billion. The company has built networks in dozens of cities with micro-fulfillment centers. Workers on bikes, mopeds, or scooters ultimately deliver the order. It differs from other grocery-delivery apps in that you don’t need to book a time slot. The company says it already has 40 million downloads.

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ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

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