Productsup announced raising $20 million in debt and equity.
Productsup, a Berlin, Germany-based SAAS developer, announced completing a funding round totalling $20 million.
The money includes equity and venture debt, and was raised from existing shareholder Nordwind Capital and venture debt provider Deutsche Handelsbank in combination with KfW. Additional individual investors include Moritz Zimmermann, who works for 42Cap, and the co-founders of Contorion, Richard Schwenke and Tobias Tschötsch.
Productsup, founded in 2010 by Johannis Hatt and Kai Seefeldt, developed a software platform that is used for feed management, product content syndication, marketplace integration, and seller onboarding. The platform helps businesses to perform a better and complete product data management, as it can syndicate content to digital marketing, shopping, or business channels, including Google, Amazon, Facebook or Walmart.
Productsup says it's in use by 800 businesses worldwide, including IKEA, Walmart, Superdry, and Rakuten.