Berlin-based software-as-a-service (SaaS) and payments provider elopage has raised $38 million in a Series A funding round led by Target Global, with participation from Partech Ventures and Avid Ventures.
The round marks the company’s first venture capital raise, having previously been completely self-financed since its inception in 2015.
Elopage’s SaaS platform enables start-ups and small to medium-sized enterprises (SMEs) to scale their digital business with digital products, automated sales and payment processing.
Özkan Akkilic, co-founder of elopage, says: “Our goal is to offer digital entrepreneurs in Europe a completely new type of infrastructure to build and scale their business.”
It currently claims more than 40,000 companies across Germany are making use of its platform.
Elopage says it plans to use the funds to further develop its technology and grow its platform, as well as boost its headcount from 70 employees to 190 before the end of the year.
The company also plans to expand its presence across the DACH region with the goal to “empower one million entrepreneurs by 2025”.