Stockly, the start-up that has developed a technology that allows e-commerce sites to ensure the sale of a product even in case of stockout, raised 5.1 million euros. The funding round was led by Idinvest Partners, Daphni, and business angels including Guillaume Pousaz (Checkout).
Stockly was founded in 2017 by Oscar Walter and Eliot Jabès. Their platform also allows predicting future stockouts by using machine learning algorithms. The technology is particularly helpful to companies within the textile sector that are often affected by stockouts. Some of Stockly's current clients include Galeries Lafayette, Go Sport, and L'Exception concept store.
The start-up intends to use the funding to expand its network of commercial partners and hire an additional twenty people. The platform's technology enables e-commerce sites to increase their revenue by reducing the number of lost sales resulting from stockouts. The funding raised will help Stockly to continue to lead the way in the stock sharing platform market.
Idinvest Partners is a European venture capital firm that focuses on investing in start-ups and growth capital. Daphni is a French venture capital firm that supports start-ups in the technology sector. Guillaume Pousaz is the founder of Checkout.com, a fintech start-up that provides payment solutions.
This funding round will enable Stockly to further develop its technology and continue to assist companies in the textile sector by reducing stockouts and increasing sales.