Berlin-based Elopage is a SaaS company that enables entrepreneurs to start and scale their digital business with digital products and automated sales. Today, the company announced that it has raised $38M (approx €32M) in its Series A round of funding.
The investment comes at a time of growth for Elopage, which had previously been bootstrapped, and claims to have been profitable since 2018. In the last 12 months, the company has witnessed 3 times growth and has also acquired 3,000,000 end customers.
The Series A round saw participation from tech investors including Target Global along with France-based Partech Ventures and US-based Avid Ventures.
How was Elopage born?
According to Elopage, founded in 2015 by Ozkan Akkilic and Tolga Onal, digital businesses face administrative and technical hurdles which lead them to spend at least ten hours a month on repetitive administrative tasks. This is where Elopage steps in.
Ozkan Akkilic, explains, “having gone through the same challenges ourselves, we set out to simplify the process from having an idea to creating a flourishing business. With Elopage, we wanted to draw on our own experience and act as enablers for digital entrepreneurship to help them focus on what they are truly passionate about: their content.”
The company aims to empower digital entrepreneurs to launch and scale their online businesses by selling digital products, courses, memberships, and subscriptions.
“Our end-to-end platform brings a completely reimagined infrastructure to build and scale a business to digital entrepreneurs, allowing a new generation of non-technical entrepreneurs to easily set up, distribute and monetise their content, within three hours, on the go,” Akkilic adds.
Elopage claims to deliver a one-stop platform to digital entrepreneurs ranging from solopreneurs and creators to international media platforms with annual sales from €5K to €40M. The startup helps users to develop and host a tailored website and sales funnels, collect payments, and take care of their tax payments.
In addition, Elopage also provides the infrastructure to deliver content that can be readily shared with the community. The company already supports more than 40,000 digital businesses.
Capital utilisation
The proceeds from this round will help Elopage to grow its team from 70 to 190 by the end of the year. It will also invest in its expansion plans across Europe.
The funds will also enable the company to further develop its end-to-end platform with the goal to help at least one million businesses by 2025.
Tolga Onal, co-founder of Elopage, says, “The investment will empower us to fuel our growth at an unprecedented rate as we continue to build elopage into the preferred SaaS platform and payment provider for digital businesses. In the context of the current accelerated switch to online, we have seen a surge in digital businesses and creators, adding more than 25,000 new customers during the last 18 months to our platform, including SPORT1, Hubert Burda Verlag, Finanzfluss, and falkemedia.”
