● 35up enables online merchants to create additional cross-selling revenues, without any inventory risks or time consuming product onboardings
● The innovative solution for matching product recommendations and a large vendor network help to improve competitiveness with large online marketplaces and create more convenient shopping experiences
● After closing its first funding round in 2021, 35up is now receiving another seven-digit capital injection, this time with Capnamic als Lead Investor
35up helps online retailers keep up with the big marketplaces
and increase overall sales and margin
Large marketplaces like Amazon generate up to 35 percent of their sales with cross-selling (e.g. “Customers also bought…”). So far, this lever has been exclusively available to them, since successful cross-selling is difficult to implement. It requires both sophisticated product matching and a large – and therefore costly – inventory. For small and medium-sized web shops, this has not been an affordable solution so far.
35up solves exactly this problem with an innovative platform that enables every web shop to cross-sell – without the risk of inventory and the labor-intensive onboarding of new products. The headless API recognizes products in the shopping cart of a web shop and uses the algorithm-based recommendation engine, to suggest suitable cross-selling items from the product range of affiliated vendors for purchase, which are then delivered directly to shoppers. For them , this means a more convenient shopping experience, and for the retailer a larger shopping cart volume. With 35up, every online shop can accordingly increase total sales and margins – by up to 35 percent.
After initial investments in 2021, 35up now closed another seven-digit financing round
After Dieter von Holtzbrinck Ventures invested a seven-digit sum alongside coparion and other VCs as part of a seed round in 2021, the team and product from 35up now also convinced Capnamic. As lead investor for the new funding round, they are investing five million euros together with the existing investors.
” 35up’s platform is a powerful solution and already generates considerable additional sales for existing customers,” says Christian Knott, Managing Partner at Capnamic. “We are therefore pleased to accompany the experienced founders going forward. We believe that 35up can bring substantial profitable sales to both web shops and the connected vendor network and that breaking the exclusivity of cross-selling will create revolutionary opportunities for e-commerce.”
Fabian Louis, Managing Director of 35up: “We are very happy to welcome Capnamic among our investors and look forward to expanding our team and to investing in sales and product in particular. Our goal is to democratize cross-selling and to help smaller web shops avoid losing their customers to the big online marketplaces.”
About 35up
35up helps online merchants create additional cross-selling revenues, without any inventory risks or working capital investments. Powered by an intelligent recommendation engine and with millions of physical and digital products in the vendor network, the headless API seamlessly embeds the most relevant cross-selling products into the checkout. Merchants that work with 35up, generate additional contribution margin by enabling their customers to access new products and services that are highly relevant to them.
About Capnamic
Capnamic is a leading European early-stage Venture Capital firm, with offices in Cologne, Berlin and Munich. The VC invests in outstanding teams from the German-speaking regions from Pre-Seed up to Series A. Capnamic’s investments include companies such as LeanIX, Staffbase, Adjust (exit to Applovin) parcelLab or Capmo, amongst others. All portfolio companies can rely on Capnamic’s unique network of global investors and industry partners as well as hands-on support, mentoring and knowledge exchange. The vast expertise of the Capnamic team includes more than 100 investments, a high turnover of successful trade sales and IPOs, as well as a strong entrepreneurial track record within the investment team. The general partners are Christian Siegele, Christian Knott, Jörg Binnenbrücker and Olaf Jacobi.
About coparion
coparion is a venture capital investor for young, German technology companies and contributes to rapid and sustainable growth. coparion supports entrepreneurial vision with its know-how – but without interfering in daily business operations. With many years of experience in venture capital and in building up companies, coparion recognises potential and opens up new perspectives. coparion has the substance, tenacity and creativity required to successfully manage even difficult situations together. With a fund volume of €275 million, coparion supports some of the fastest-growing German technology companies such as Clark, Finoa, Grover, Holidu, Neodigital, parcelLab and Zeotap. coparion invests up to €15 million per company, usually in several financing rounds of €0.5-8 million each. coparion is flexible and can invest from smaller to larger volumes at any stage of development.
About Dieter von Holtzbrinck Ventures
DvH Ventures is one of the leading early-stage investors in Europe. Since 2014 the fund invests independently in ideas with the potential to disrupt entire industries. Today DvH Ventures active funds back world-class entrepreneurs in fields including but not limited to digital health, education or fintech. This is only possible through DvH Ventures unique network of passionate founders, close collaboration along all steps of the way and an outstanding team led by Peter Richarz and Fabian von Trotha right out of the heart of Cologne. Beyond financial resources, DvH Ventures supports their portfolio companies with management expertise, strong industry knowledge and an international investor network. An exclusive media-for-equity program lets portfolio companies furthermore access extensive media reach through leading publishing brands such as Handelsblatt, DIE ZEIT, Tagesspiegel, and Apotheken Umschau.
