Mercateo Beteiligungs Holding AG, a Munich, Germany-based independent B2B marketplace, secured a growth financing of undisclosed amount.
Luxembourg-based financial investor BIP is investing a double-digit million sum into Mercateo.
The company intends to use the funds for the strategic expansion of the existing marketplace model to a transactional network with a viral platform economy. The plan is to strengthen “Mercateo Unite”, a digital infrastructure that enables companies to improve their B2B procurement processes and manage their business relationships.
In June 2017, SAP Ariba selected “Mercateo Unite” as the infrastructure for the Ariba Spot Buy procurement process. European SAP Ariba customers are given access to a broad, optionally expandable assortment and supplier landscape for ad-hoc requirements via “Mercateo Unite”.
Funded in 2000 by Dr. Sebastian Wieser by CEO Dr. Sebastian Wieser, Mercateo combines a B2B marketplace with a networking platform. Through this infrastructure, buyers, suppliers, manufacturers, and service providers connect their systems amongst themselves, and process transactions digitally, regardless of their previous degree of digitization.
The company, which reached €228m sales in 2016, employs more than 450 people across Europe and is currently active in 14 countries.