Recart to raise €2.8 million in a round led by Lead Ventures.

Recart, a Budapest, Hungary-based software development startup, announced the completion of a €2.8 million ($3.5 million) capital funding round.

The money was raised from Hungary-based VCs led by Lead Ventures via the Enter Tomorrow venture capital fund, and joined by Oktogon Ventures and Day One Capital.

Proceeds will be used to further develop its automated online marketing software, boost sales, expand US presence, and double the development team within a few months. 

Recart, founded in 2015 by CEO Soma Arnold Toth, assists online stores that are mostly Shopify clients in full marketing automatization with analysis of real-time behavioural data used for targeting interested buyers with high accuracy. The platform automates e-store communication and marketing activities with customers on various message sending platforms, such as Facebook Messenger.

Recart previously raised $1.3 million in 2019.