Europe B2B E-commerce market reached $901.1 billion in 2019 and will grow by 11.9% annually over 2020-2026 owing to the growing trend of shifting to digital transactions among enterprises. While B2B eCommerce has been booming for some time now, a sub trend has captured the attention of the B2B world: B2B marketplaces. Marketplaces are the biggest development in the B2B world lately and it is estimated that at least 70% of enterprise marketplaces will serve B2B transactions by 2023.
As on 2020, there are over 300 B2B marketplaces in Europe, up from a mere 20 back in 2010. Of these marketplaces, more than 10 have raised over €50 million and 4 have raised over €100 million (Funding Circle, ManoMano, Meero and TravelPerk). In total, European B2B marketplaces have raised over €3 billion and this number continues to grow. Some of most notable ones are mentioned below –
1. MEERO
Meero provides a marketplace platform that links up photographers to clients such as eCommerce store owners that require professional photographs taken. On the side, Meero also has a technological solution that has greatly enhanced photo editing. Using Artificial Intelligence (AI) and Machine Learning (ML), Meero’s solution cuts the time required for professional post-processing (which usually takes hours or days) to mere seconds.
2. TRAVELPERK
TravelPerk was born in Barcelona by Avi Meir and his team. Their objective was to lower the cost of business expenses and increase the convenience of customers. The uniqueness in the working of TravelPerk lies in the fact that they have no travel agent. This unique approach convinced many customers to look into their business activities, which resulted in the platform’s convincing growth over the past few years.
3. SCOUTBEE
Founded in 2015, Scoutbee is a B2B marketplace that targets goods procurement and the supply chain. More specifically, they aim to speed up a company’s search for suppliers by utilizing Big Data and AI. They have since successfully shortened a procurement process of 2 to 3 weeks to a mere 2 days. What is more remarkable is the reason they were able to do this: they have fundamentally mapped out the world’s global manufacturing supply chain.
4. SENNDER
Sennder is a leading digital road freight forwarder in Europe, and their marketplace focuses on matching Carriers to Shippers. In 2017, Sennder entered into a partnership with renown heavy vehicle manufacturer, Scania, which culminated in an “eight digit Euro” investment in Sennder. In 2020, it paved its way for dominance of the European freight industry, through a merger with French competitor Everoad, and the complete acquisition of the European operations of Uber Freight.
5. EWORLD TRADE
The online b2b Ecommerce platform of eWorld Trade made a mark for itself in the global arena. It allows a better way of communication between the buyers and the sellers. eWorld trade endeavors to provide a greater experience in digital media and providing technological services.
6. FASHIONTIY
FashionTIY is a marketplace that gained immense importance among small and medium businesses. This platform is cheaper by 70%, with no MOQ or other advantages, yet it marked itself in the B2B platform in Europe. FashionTIY indulges in providing the best competitive advantage of pricing for small and medium businesses.
Below is the list of other top B2B marketplaces across Europe
October 27, 2021