March 28, 2023

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As per the latest market trends, the situation around the e-commerce sector all over the world is changing. There was a time when investors from all over the world were interested to get their investments staked at Amazon. However, the situation seems to have changed drastically when it comes to making investments through the e-commerce giant.

The private equity investors and venture capital firms are now going after the e-commerce solutions in Europe. It is being expected that the investment and capital firms are doing this in order to challenge the might and prowess of Amazon.

Since the beginning of the year 2021, Amazon has started observing that many competitors have now started emerging against it. There are now speculations that Amazon will no longer be the ruling e-commerce solution in the entire world.

Soon or later, Amazon was going to lose some of its ground and give way to other e-commerce solutions to take the lead. It is being expected that the time has come earlier than expected as the European region now looks determined to take on the e-commerce giant.

In recent years, Europe has become very active in the technology industry as it is constantly making developments in the particular sector.

Whether it is a matter of self-manufacturing semi-conductors and becoming independent in the process. Or, it is creating and launching new e-commerce solutions, Europe has been taking many steps to show what it is truly capable of.

In the running year, their e-commerce solutions have announced that they have managed to carry out very successful funding rounds. All three e-commerce solutions have revealed that they have managed to hold a very substantial funding round. Each solution has confirmed that they were able to raise hundreds of millions of dollars from the funding rounds.

The most surprising part of the funding rounds is that they were held for a very short amount of time and managed to generate very high figures per platform.

The names of the three e-commerce solutions that are aiming to compete with Amazon are Wolt, Gorrilas, and Getir. Wolt is an e-commerce solution based in Finland, Gorillas is from Germany, and Getir is from Turkey.

The first platform, Wolt from Finland had announced back in January of 2021 that it had carried out a successful funding round. Although the e-commerce giant has not revealed its market capitalization, yet it has confirmed that it had managed to raise $530 million. From January until today, it has been revealed that the firm has raised over $856 million.

The second platform is Gorrilas from Germany that reported a successful funding round that helped the firm raise $290 million with a market valuation of $1 billion.

The third platform is Getir from Turkey that carried out a successful $300 million funding round and its current market capitalization is $2.6 billion.

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