Ecwid sells e-commerce tools directly to SMBs and via partners, enabling merchants to build storefronts on websites, apps and sell through channels such as Facebook, Instagram, Amazon and Google. Its pricing includes a free tier for up to 10 products, with paid tiers adding integrations, inventory capacity and analytics. The company also white-labels its rails through partners like Wix, GoDaddy and Square and serves roughly 1.5 million SMBs across 175 countries in 54 languages. Founded in 2009 in Russia as a spinout of X-Cart and now San Diego-based, Ecwid is profitable. In 2019 sign-ups doubled and the product has a Net Promoter Score above 60; transaction volume grew 50% between March and April amid the COVID-19 outbreak. Ecwid is positioned alongside platforms such as Shopify, BigCommerce and WooCommerce as a low-barrier e-commerce option for analogue small businesses. Ecwid is an e-commerce platform originally founded in Russia that lets merchants build stores on social networks like Facebook, on their own sites, and on mobile. The product is offered as a "true freemium" model, where merchants can use the service for free if selling 10 items or fewer and pay for upgraded features beyond that. The company reports about 500,000 merchants across roughly 175 countries and added some 50,000 users since April following deeper integration with Facebook. In January 2013 Ecwid took on Payvment’s 200,000 merchants after Intuit acquired Payvment’s platform but not its existing business. Management says it will use new funding to expand platform functionality, enable cloud-based transactions, and broaden mobile and point-of-sale options. Ecwid competes with larger players like Shopify and Bigcommerce and claims conversion rates on its freemium model that are above industry average. Ecwid provides shopping-cart software that enables individuals and small businesses to set up an online store on their website or on social networks in minutes. The company reports more than 100,000 customers across 174 countries, with roughly 40% of customers located in the United States. Ecwid is a Russian startup and this financing marks its first institutional round. The product is positioned for rapid international adoption given its lightweight integration model. Management plans to use the capital to expand into key markets, including opening Ecwid's first office in Mountain View, California in early 2012 and broader expansion to the US and UK. No revenue figures or prior funding rounds are disclosed in the article.

Total raised

$49M

Funding rounds

3

Latest round

Equity

Latest activity

May 2020