Outvio

History

2021: Attracting $3 million investment

At the end of July 2021, Estonian startup Outvio, which provides a SaaS solution for fulfilling orders for medium and large online stores in Spain and Estonia, closed an early-stage funding round of $3 million under the leadership of Change Ventures.

Companies such as TMT Investments, Fresco Capital and Lemonade Stand also participated in the funding round, several angels also joined the round, including James Berdigans (Printify) and Kristyan Vilosius (Katana MRP). This is the first institutional round of startup financing after bootstrapping since 2018.

Usually, owners of online stores have to use several different tools or hire expensive developers to develop their own delivery solutions. Outvio offers online stores of any size a post-purchase shipping setup that seeks to replicate the Amazon-style experience, where customers can also return ordered items.

TMT Investments invested in Estonian developer SaaS for Outvio retailers

We can provide any online store with absolutely all the tools that are needed to provide excellent after-sales customer service. We can integrate into different points of the order process, and for large businesses we can save hundreds of thousands of dollars, only on the cost of development. What happens after the purchase is much more important. More than 88% of consumers say that it is very important for them that retailers actively report on each stage of the implementation and delivery of the goods. If you do not do this, especially when there are various types of problems, then you can often lose your client forever. Our task is to help online stores optimize everything that happens after a sale, stimulating business and loyal customers with a fantastic experience after a purchase, "said Juan Borras, co-founder and CEO of Outvio.

Although retail over the Internet still has a long way to go, consumer expectations are growing when it comes to the timing and standards of delivery of goods. The same can be said of online store operators, who are increasingly looking for more advanced solutions with consumer experience. The Outvio team understood exactly what the gap was in the market and did a great job of finding product compliance with the market using its modern SaaS platform to fulfill orders, "said Rait Oyasaar, investment partner at leading investor Change Ventures.[1]

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