Printify in a $45M investment deal backed by Index Ventures.

Printify, a Riga, Latvia and San Francisco, USA-based startup providing an on-demand printing and dropshipping marketplace, announced closing a $45 million investment deal.

Later edit: The round was upgraded to $50 million, with contributions from multiple angel investors.

The money was raised from investors led by Index Ventures, and joined by H&M Group, Virgin Group and Dreamers VC. Proceeds will be used for global expansion.

Printify, founded in 2015 by Artis Kehris, Gatis Dukurs and CEO James Berdigans, developed a marketplace that connects merchants with print production partners in more than 100 locations across the world, with the widest coverage in the US, its primary market. The company says it is serving more than 2 million registered merchants.