A string of significant deals sees Manchester-based eCommerce platform Mercarto deliver seven-figure revenues in its first year of trading.
Designed to allow budding entrepreneurs to set up an end-to-end eCommerce store in minutes with no cost or risk, the Mercarto public platform is shaking up the world of eCommerce.
Mercarto connects sellers and suppliers through its marketplace, providing a full suite of eCommerce tools including a store builder, product information management, hosting, order management and payment.
The platform can also be white labelled to provide large organisations with bespoke shops for resellers and clients. Mercarto’s first-year revenues have been driven by a series of multi-million pound contracts to white label its eCommerce marketplace engine for global corporations.
The beta launch of Mercarto’s public platform saw 4,000 users open stores, proving the concept. The full platform is set to launch this summer with pricing set at £5.99 per month for Basic, and £24.99 per month for Premium.
Founder and CEO Sean Brown said: “The tech stack and the features we’ve built are not available anywhere else, so they’re attracting major corporations who want to white label the platform to sell their products through.
“Revenue from the white labelling deals gives us an incredible platform to build from ahead of the launch of the full public platform.”
Products within Mercarto are tagged with a huge variety of different attributes, thanks to its innovative product information management (PIM) system. This system enables search engines and the AI tools integrated with the platform to identify exactly which products customers are looking for.
The platform’s eCommerce tools work for retailers, brands, buying groups and multi-channel marketing companies.
Based at Tech Manchester’s FastForward incubator at the UKFast Campus in Manchester, Mercarto is backed by UKFast CEO Lawrence Jones MBE.
Co-owner and investor Lawrence Jones said: “When you're investing in a business, you have to bet on people and I’ve got it wrong enough times to know when I’ve got it very right.
“Sean and I share similar passions for eCommerce and I instantly saw potential both in him and the Mercarto platform.
“We’ve seen the rise of big eCommerce providers like Magento and Shopify that aren’t easy for developers to interact with. Mercarto is perfectly placed to listen, respond and work with the developer community, providing something that right now doesn’t exist at scale.”