Magaloops' B2B marketplace is connecting independent traders with wholesalers
We are very pleased to announce our investment in Magaloop, a B2B marketplace that connects independent traders such as owner/family led kiosks, corner stores, mom’n’pops, etc. with wholesalers and FMCG brands. The round was led by Market One Capital together with Redalpine, Piton Capital, Atlantic Food Labs, and FJ Labs.
There are over 50 million independent traders and a few hundred thousand local wholesalers worldwide who suffer from a complex distribution chain that is for the most part still analog, inefficient, and intransparent. Orders are placed by phone without any process-based order confirmation or sometimes even still through fax machines.
Magaloop is resolving these bottlenecks with a platform that serves as the digital backbone for this multi-trillion-dollar market by connecting independent traders, manufacturers, and wholesalers. Their technology powers simple and efficient ordering and pricing solutions as well as payment and credit services for the benefit of all stakeholders.
This FCMG revolution is powered by the co-founders Uwe Hölzer and Michael Högemann. Uwe brings a wealth of experience in wholesale and retail industries with 25 years at CEO level. Among others, he worked for ALDI, Real Hypermarket, Metro Poland, and Metro China. Michael has plenty of startup and founder experience, including online platform DaWanda.
Currently, Magaloop operates in Berlin, Germany, and with the fresh funding is building its presence in other regions.