German startup 35up secures €5 million to cross selling platform for SMEs

A German startup providing cross selling platform has received five million euros financing from VC firm Capnamic and other existing investors.

Large marketplaces like Amazon generate up to 35 percent of their sales with cross-selling (e.g. “Customers also bought...”). So far, this lever has been exclusively available to them, since successful cross-selling is difficult to implement yourself. It requires sophisticated product matching and a large – and therefore costly – inventory. For small and medium-sized web shops, this has not yet paid off.

35up solves exactly this problem with an innovative platform that enables every web shop to cross-sell without the risk of storage and the labour-intensive addition of new products to the range.

The headless API recognizes products in the shopping cart of a web shop and uses the algorithm-based recommendation engine to suggest suitable cross-selling items from the product range of affiliated retailers for purchase, which are then delivered directly to the end customer.

For customers, this means a more convenient and practical shopping experience, for the retailer, in turn, a larger shopping cart volume. With 35up, every online shop can significantly increase total sales and margins - by up to 35 percent.

The new investment comes after Dieter von Holtzbrinck Ventures invested a seven-digit sum together with coparion and other VCs as part of a seed round in 2021.

Christian Knott, Managing Partner, Capnamic: "The 35up platform is a powerful solution and is already generating measurably more sales with existing customers. We are therefore pleased to accompany the experienced founding team from now on. We believe that 35up can bring substantially profitable sales to both web shops and the connected dealer network and that breaking the exclusivity of cross-selling will create revolutionary opportunities for e-commerce.”

Fabian Louis, Managing Director, 35up: “We are very happy to welcome the ideal partner in Capnamic among our investors and we will now expand our team and invest in sales and product in particular. Our goal is to democratize cross-selling and prevent smaller web shops from losing their customers to the big online marketplaces.”

www.35up.com