Channable, an eCommerce feed management and pay-per-click (PPC) automation solution provider, has gotten over €55 million ($61 million) in funding.
The company announced the funding Monday (Jan. 31), adding that it plans to expand more around the globe, boost research and development (R&D), build more companies and add more to sales and marketing momentum.
Channable’s solution comes with product feed management, PPC and campaign automation, order and stock sync and repricing products, which can help boost eCommerce’s ability to deal with the large amounts of products out there.
Channable’s services let eCommerce companies sell, advertise, market and manage online sales. Per the release, the company works to power sales and optimize digital sales performance, utilizing peak performance.
Co-founder and CEO Rob Van Nuenen said the goal was to “establish Channable as essential for any eCommerce company.”
“Considering the increased demand in eCommerce it can get complicated without the right tools,” Van Nuenen continued. “This latest round of funding will help us make eCommerce easier by serving more clients globally, while building on our innovative, ready-to-use technology and best-in-class support.”
PYMNTS recently reported that while eCommerce has made strides in areas like digital refunds and disbursement processes, seller payments are often conducted with older, slower methods.
Read more: 27% of Businesses Wait up to 3 Days for Payments From Online Marketplaces
Because of that, sellers have been saddled with longer-than-necessary wait times to get their outstanding payments from digital sales. Twenty seven percent of them have said it takes “two or three days” for them to get the payments from digital markets.
Smaller or medium-sized businesses can be hurt the most by this. As such, many are looking for marketplaces for quicker payments.
“Outdated payment methods like physical checks and slow-to-settle [automated clearing house transfers] put sellers in a bind,” Ingo Money CEO Drew Edwards told PYMNTS. “Waiting an average of three days for funds to clear means missing out on potential revenue opportunities, something that sellers will not stand for as marketplace competition increases.”