Debt Financing Funded Commerce and Shopping Startups
The 50 most recent debt financing rounds in Commerce and Shopping span late 2021 through October 2022, with disclosed amounts ranging from $100K (ChopLocal…
The 50 most recent debt financing rounds in Commerce and Shopping span late 2021 through October 2022, with disclosed amounts ranging from $100K (ChopLocal, TheLorry, Open Social) to $810M (Kavak, Mexico City's used-car marketplace). The United States accounts for the largest cluster of companies, with San Francisco-based deals alone including Slope ($125M, October 2022), Kyte ($200M, March 2022), Cherry ($50M, March 2022), and Fairbanc ($7M). Berlin contributed two sizable rounds — Razor Group ($400M) and Grover ($220M) — while Barcelona produced three entries including SeQura ($145M).
Embedded lending and revenue-based financing feature prominently: Wayflyer (Dublin, $253M), Juni (Göteborg, $106M), Credit Key (Venice CA, $100M), and Slope all raised nine-figure rounds under debt structures. Three rounds in the dataset carried undisclosed amounts — Equippo.com, Fello, and The E-Scooter — while several others closed below $500K, including Kleta ($480K) and HotTea Mama ($100K).
Most recent rounds
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Frequently asked
What are the largest debt financing rounds in this Commerce and Shopping dataset?
Kavak (Mexico City) leads at $810M, followed by Razor Group (Berlin) at $400M and Wayflyer (Dublin) at $253M. Avant (Chicago, $250M), Grover (Berlin, $220M), and Society Brands (Canton, OH, $204M) round out the top six disclosed amounts.
Which cities have the highest concentration of Commerce and Shopping companies raising debt?
San Francisco appears most frequently among US cities, with Slope, Kyte, Cherry, and Fairbanc all based there. New York accounts for CleanCapital, Lev, Bridger, and LOOK OPTIC, while Mexico City produced three deals — Kavak, Clip, and Fairplay.
Which international markets outside the US show meaningful debt financing activity in this segment?
Barcelona produced three entries (Kleta, SeQura, Ukio), Berlin two (Razor Group, Grover), and Dublin two (Wayflyer, Phorest). Emerging markets are also represented, with Trella (Cairo), liwwa (Amman), BeepKart (Bengaluru), and TheLorry (Selangor) each closing rounds.
How common are sub-$1M debt rounds in this segment?
Eight companies in the dataset closed at or below $1M: ChopLocal, TheLorry, Open Social, and HotTea Mama each raised $100K, while Kleta closed at $480K, LOOK OPTIC at $400K, Venuetize at $300K, and Wild Alaskan at $900K. These sit alongside nine-figure rounds in the same category, indicating debt financing is used across the full company-size spectrum.
What sub-sectors of Commerce and Shopping are using debt financing in these rounds?
The dataset spans embedded lending and BNPL (Slope, SeQura, Credit Key, Cherry), revenue-based financing for e-commerce brands (Wayflyer, Juni), used-vehicle marketplaces (Kavak, ZoomCar, BeepKart), e-commerce aggregators (Razor Group, Society Brands), and food or consumer DTC brands (ChopLocal, Hello Bello, Wild Alaskan, TenderCuts).
What date range do these Commerce and Shopping debt rounds cover?
The 50 rounds span December 2021 through October 2022. The three most recent closed in the third week of October 2022 — ZoomCar ($10M, Oct 20), Credit Key ($100M, Oct 19), and Trella ($6M, Oct 17). The earliest in the dataset is TenderCuts (Chennai, $4M, December 21, 2021).
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