Series B Funded Commerce and Shopping Startups
The 50 most recent Series B rounds in commerce and shopping stretch from November 2023 through November 2025, with disclosed amounts ranging from $500K (AU…
The 50 most recent Series B rounds in commerce and shopping stretch from November 2023 through November 2025, with disclosed amounts ranging from $500K (AUTO.KZ, Kazakhstan) to $78M — a figure reached independently by Sipay in Istanbul and ToneTag in Bangalore. The top tier also includes Aplazo at $70M, Shop Circle at $60M, and Fermat Commerce at $45M. Eight rounds in the dataset carry undisclosed amounts, including Roofr (San Francisco) and obilet.com (Istanbul).
Geography is notably distributed. London is the single most represented city, with five companies including Swap and Nivoda. India contributes nine companies across Bengaluru, Bangalore, Ahmedabad, and Mumbai — the densest national cluster in the list. US activity is spread across Austin, San Francisco, New York, Phoenix, Los Angeles, and Chicago, with no single metro dominating. Emerging-market presence extends to Vietnam, Singapore, Kenya, the UAE, and Mexico, reflecting Series B appetite well beyond traditional tech hubs.
Most recent rounds
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Frequently asked
What are the largest disclosed Series B rounds in this group?
Sipay (Istanbul, April 2025) and ToneTag (Bangalore, February 2025) both raised $78M, the highest disclosed amounts in this dataset. Aplazo (Mexico City) follows at $70M from May 2024, with Shop Circle (London, $60M) and Fermat Commerce (San Francisco, $45M) rounding out the top five.
Which cities have the highest concentration of Series B commerce and shopping companies here?
London is the most represented single city, with five companies — Swap, Shop Circle, Leanpay, Nivoda, and The Collaborative. The Bengaluru/Bangalore metro accounts for SuperK, eloelo, ToneTag, Bizom, Blitzscale Technologies, and Mokobara, making India's Karnataka cluster the most active nationally. New York-area entries include Checkmate, Blue Stripes, Crisp, and Menusifu.
How many rounds in this list have undisclosed amounts, and which companies are they?
Eight of the 50 rounds did not disclose size: Roofr (San Francisco), obilet.com (Istanbul), Beam (Lisbon), M Village (Ho Chi Minh City), The Desire Company (Chicago), Unybrands (Miami Beach), Lapaire (Nairobi), and The Collaborative (London).
What does the typical deal size look like for Series B commerce rounds in this dataset?
Among the 42 rounds with disclosed amounts, the range runs from $500K (AUTO.KZ, Kazakhstan) to $78M, but the majority fall between $10M and $45M. Sub-$10M rounds are rare — PiNCAMP ($7M), KAMEREO ($8M), and Blitzscale Technologies ($8M) are the only three below that threshold.
How strong is emerging-market representation in this Series B cohort?
India accounts for nine companies across Bengaluru, Bangalore, Ahmedabad, and Mumbai, raising rounds from $8M to $78M between mid-2024 and mid-2025. Southeast Asia adds KAMEREO and M Village (both Vietnam) and Locad and Supermom (Singapore), while Lapaire (Nairobi), Immensa (Dubai), and Aplazo (Mexico City) extend the footprint further.
What time period does this Series B commerce and shopping data cover?
The 50 rounds span from November 7, 2023 (ShippyPro, Florence) through November 12, 2025 (Lucky Energy, Austin), representing roughly two years of deal flow. Activity across 2024 and 2025 is dense, with no single quarter appearing to dominate based on the rows shown.
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