Utrecht-based startup Channable received a 750.000 euro investment from Dutch VC Peak Capital to keep growing in Europe.
Channable provides an online marketing tool for online retailers, marketeers and webshops. How it works: you can easily display and compare products on shopping websites, marketplaces and affiliate networks. The product information is downloaded via a data feed or plug-in, and then optimized using rule based actions in order for the feed to comply with the specifications of the desired platform.
“Customizing a data feed is a time consuming task for many online retailers. In order to adapt the feed for the various channels, many custom adjustments need to be performed in the online store, meaning that a web programmer must be hired. Channable enables users to perform these changes much more frequently and more easily”, explains co-founder Stefan Hospes in a press release.
Co-founder and managing partner of Peak Capital, Johan van Mil, called Channable a hidden gem. He did rightly so, because the startup quickly outgrew the space needed at incubator UtrechtInc (they are now located in a little castle tower within the city centre). And since the start of Channable in 2014 the startup now already has over 900 paying customers from the Benelux, Scandinavia and DACH area.
With the investment, the team can expand next year to France, Spain, Italy and the UK. “Last year the team of Channable has achieved strong growth, not only in the Netherlands but also abroad. Now is an ideal time for Peak Capital to invest with capital and hands-on support to accelerate scaling up,” said van Mil.