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Gaming billionaire Morten Klein invests in €1.2M funding round of brain of online shopping brands

Outshifter
Image credits: Outshifter

Oslo-based Outshifter, a startup for e-commerce has nabbed €1.2 million in funding. The financing was backed by the Nordic seed fund Maki.vc (invested in Zevoy), Skyfall Ventures, Klein Group and Amazon alumni Dr. Caspar Schauseil.

For the uninitiated, Maki was started by one of the first investors in Wolt, Ilkka Kivimaki, and gaming billionaire Morten Klein. Outshifter will use the funds to hire 10 key team members by the end of 2022, mainly engineers. It focuses on expanding the sales initiatives as well.

“All eCommerce systems have their own way of managing product data: SKUs, stock, pricing, etc. And the sales channels with access to this data (supply), dominate the market. We believe the lack of a standard for managing product data, limits the ability to distribute it. By making it possible to access and synchronize product data through one universal format, Outshifter aims to create a more level eCommerce playing field.”, said Outshifter’s founder and CEO Danielle Tschudi

“We are excited to back Outshifter and the market making opportunity where smaller e-tailers can cost-effectively tap into new audiences by connecting them in a simple and efficient way with established web destinations, who in turn will get new means to monetize their existing audiences”, said Maki.vc’s partner Pirkka Palomäki

API for product data access

Outshifter was founded in 2019 by Danielle Tschudi (CEO) along with co-founders Angelo Sepulveda and Georg Michelet. The API for product data access bi-directionally syncs data with any e-commerce system, through one API solution. Every e-commerce system manages product data differently and Outshifter has created a format to make it easy to work with data from different sources.

Outshifter’s single API standardises and synchronises product data between the supplier’s commerce systems and sales channels such as online stores, media outlets, apps, and marketplaces, thereby allowing more online surfaces to use e-commerce as a revenue stream, and enabling suppliers to radically scale their online distribution.

Partnership with Wolt

It is a provider of a suite of solutions for online sellers. Its offerings include finding products by creating a network with multiple brands, suppliers, and other e-commerce platforms from around the globe using the Outshifter platform. Its features include listing management, updates inventory, customer information, order status, analytics, and more. It offers the solution for platforms like Shopify, WooCommerce, WordPress, and more. The company offers the solution on the subscription-based policy.

Recently, the company built new partnerships with the food delivery giant Wolt, Egmont and other leading e-commerce players. Wolt partnered with Outshifter to synchronise product data between various suppliers and the Wolt app. It lowers the barrier for more suppliers to start selling with Wolt and allows the company to scale faster as they expand its retail initiatives.

What does Outshifter do?

Outshifter is a tool with many advantages, including the ability to scale faster, which lets discover and get started working with new suppliers in minutes. It hosts a native multi-vendor checkout, regardless of your frontend stack. The startup lets increase retention by converting customers without redirection to increase user retention. One can earn commissions to expand the revenue stream by earning a cut of each transaction and save resources to stop building and maintaining multiple integrations.

Outshifter offers simple plans made for growth. There is a free developer plan that lets build and explore ideas in a test environment. It includes all developer resources, no credit card, dedicated email support, and core features. Also, there are flexible plans for all sizes and use cases and it is possible to save 20% on switching to an annual plan. The monthly plans are priced starting from $89 per month and come in three plans such as Standard, Advanced and Enterprise.

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