Woolworths Group’s W23 invests in Australian startup Marketplacer ahead of marketplace launch

Australian e-commerce technology platform Marketplacer has become the latest homegrown startup to secure funding from Woolworths Group’s venture capital arm W23.

W23’s investment will help Marketplacer, whose technology is used by the likes of Myer, SurfStitch, Nokia and Providoor – enhance its platform and grow into new markets.

Ingrid Maes, MD of W23 said: “W23 invests in startups that accelerate ecosystem strategy, and long term win-win partnerships are an inherent advantage for both parties.”

What is the Marketplacer platform?

“Marketplacer is a leading platform for an increasing number of global retailers exploring third-party marketplace strategies, and will play a key role powering our own digital improvements.”

Jason Wyatt, Marketplacer Co-Founder and Executive Chairman said, “As we extend the Marketplacer offering globally, strategic and mutually beneficial partnerships are key to our own growth trajectory.”

“We’re thrilled to count iconic retailer Woolworths as both a Marketplacer client and investor.”

“This deeply collaborative partnership will see our team and technology drive a monumental digital transformation moment for the brand, while also supporting our own ability to expand, simplifying growth for businesses the world over.”

The investment comes as Woolworths prepares to launch a marketplace offering on Woolworths to improve the depth and breadth of its everyday needs range for customers.

The Woolworth stakeholders’ point of view

Director of New Business, Faye Ilhan says,”As more customers start their shopping journey digitally and buy groceries online, we know their expectations will only continue to rise.”

“Together with Marketplacer, we’re building a marketplace for Woolworths, which will help extend our range of everyday needs products for online customers.”

“As well as offering more choice to the millions of customers who visit our website each week, our marketplace will provide existing and new suppliers with fresh opportunities to partner with us to grow their business.”

“This will be a highly curated marketplace focused on range extension in our core everyday needs categories and we look forward to exploring opportunities with supply partners.”

Woolworths will initially pilot an extended daily needs range with BIG W later this year. This will help Woolworths gauge customer demand for an expanded range, while allowing it to test delivery logistics with another retailer in the group.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.