After raising €106M, Latvia’s first unicorn unveiled

The funding follows after a strong year of growth

Printful unicorn

After raising €106M, Latvia’s first unicorn unveiled. Source: pexels.com

According to Ecommerce News, printing and fulfillment service Printful has received an investment worth over €106 million from growth equity firm Bregal Sagemount.

This funding makes Printful Latvia’s first company to achieve unicorn status, as it’s now evaluated at over $1 billion.

The company stated it will launch additional products and services, and expand into new channels and countries with this funding.

The figures reveal that in 2020, the Latvian company saw its revenue increase by almost 80% and exceed $163 million.

We have grown from a startup to a global industry leader led by a new generation of Latvian entrepreneurs. This investment confirms the strength of our position and also shows that we operate in an industry where there is significant growth potential. We look forward to partnering with Bregal Sagemount as we continue our journey
David Siksnans, CEO and co-founder of Printful

As an on-demand printing and fulfillment company, Printful lets merchants, artists, and creators run an e-commerce business without having to invest in production or logistics. The dropshipping supplier takes care of the printing, product storage, and delivery. It integrates with major e-commerce software, including Shopify, Etsy, WooCommerce.

We’ve reported that Switzerland-based department store launches its online marketplace.

SEE ALSO: