Incubout.com, a white label SaaS solution for online stores, has today announced that ACTIVE Venture Partners took a minority stake in their company, being the second time that the fund backs serial entrepreneurs Luis Krug and Emrah Hizarci.
Incubout offers digital commerce merchants a complete toolbox to instantly build, operate and scale online stores. Merchants can build an online shop in less than 30 minutes without coding a single line. Once the shop is up and running, Incubout will publish the store catalogue across 50 marketplaces (e.g. including Tmall.com, Amazon, eBay, etc.) and takes care of the operational complexity, managing: payments, product feeds, publishing, procurement and even order management. On top, the company just added its world class mobile inventory system to complete its product suite.
Digital commerce is a competitive business and even more so for small and medium size stores. Shops joining Incubout increased sales from 40% to 300% since they instantly gained worldwide customer reach, topnotch technology, and strong operations. Thanks to the strong value proposition, the Incubout platform already transacts over €500M in product sales, hosts over 12,000 shops worldwide, supports 150 payment gateways and operates in 8 different languages including Thai, Arabic, and Mandarin.
The plan for 2016 is to strengthen the Middle Eastern market and further develop the South East Asian market. This strong expansion is fueled through distribution partnerships with large companies that offer a white label version of Incubout. Currently Incubout has partnerships in Spain, Middle East, Indonesia, Hong Kong and Australia.
Luis Krug, co-founder and CEO of Incubout, said: “ACTIVE backed our previous venture Oooferton and we could not ask for a better partner to internationalize Incubout. ACTIVE is one of the few truly international European funds and we already benefitted their network to scale.”
Esteve Jané, investment associate at ACTIVE Venture Partners, said: “Incubout boils down the experience of two astonishing digital commerce entrepreneurs; companies partnering with Incubout will compete at major leagues. ACTIVE is bullish on Incubout since we have seen how Luis & Emrah scale businesses.”
Founded by Emrah Hizarci and Luis Krug, Incubout specializes in the development of digital commerce frameworks. Since 2013, the company has developed white label SaaS solution for online stores. Incubout has partnered with Correos to cover the Spanish market and is expanding to MENA and SEA markets through new partnerships. Incubout has offices in Barcelona, Istanbul and Hong Kong and currently employs 17 people, mostly software engineers.
The founders, Luis Krug & Emrah were also the creators of Oooferton and managed the company during the last 5 years until it was sold to Pixmania. Prior, both entrepreneurs founded in 2006 Rebelio and scaled to 11 countries and €64M in less than two years. Luis is well regarded for not only scaling companies but also turning them around. Luis was appointed COO of Pixmania and BuyVip to restructure both companies. Prior, Luis founded Redcoon in 2003 and in three years scaled to €63M.