Tictail receives $22 million Series B funding

By

Obi Anyanwu

Published
Jul 30, 2015

Tictail this week announced that it has raised $22 million in Series B funding from its previous investors Creandum, Thrive Capital, Balderton Capital, and business angels Klaus Hommels of Lake Star and Gustav Söderström, the product manager for Spotify.

The company plans to put the $22 million towards its global expansion and the enhancement of its mobile marketplace.
 
"We had planned to bring in $16 million, but because it is a high pressure market, and because we wanted these investors, we increased the round. There is clearly a significant b-round, but if compared to the market size, it's just the beginning of what Tictail can become. Today there are 150 million micro-enterprises, of which an increasing proportion are starting to sell online," said Carl Waldekranz, founder and CEO of Tictail.

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Tictail is a Stockholm-based e-commerce platform that aids in the discovery of independent brands from all over the world. Carl Waldekranz, Kaj Drobin, Siavash Ghorbani and Birk Nilsson co-founded the company in 2011, which now has 85,000 brands connected to its network.