Yatego, the German e-commerce platform, has received investment from Acton Capital Partners. The terms of the deal were not disclosed, although the remaining share capital is held solely by the company’s management. Yatego says it will use the funding to accelerate growth and improve its offering to retailers and consumers.
Founded in 2003, the St. Georgen, Germany-headquartered company offers retailers a one-stop solution for business-to-consumer e-commerce – an online shopping mall, if you will. It basically does the heavy lifting so that retailers can easily set up shop online. Yatego offers online marketing, payment and IT-systems, allowing its clients to benefit from economies of scale.
That’s the pitch and around 10,000 retailers have taken up the offer, putting over 3 million products on sale and amounting to 100 million euro of transactions processed in 2010. In addition, 10 million consumers visit Yatego’s “online shopping mall” per-month.
Yatego represents Acton’s 5th investment, having previously invested in other e-tailers including the UK’s Glasses Direct; and mytheresa.com, the luxury women’s fashion online store.