TradeSquare Founder and CEO Einat Sukenik said the firm’s mission is to provide small firms in the country with the power to receive products they require expediently and simply from one digital platform to dedicate less time to procurement and more time to helping clients.
“As we considered the alternatives, it was clear that Mirakl was the best choice to deliver on that mission with the scalable solution and unmatched expertise that will empower us to grow and our small business customers to prosper,” Sukenik said in the announcement.
TradeSquare provides SMBs with access to more than 100,000 offerings from over 350 selected local suppliers in a single place. Purchasers get marked-down wholesale pricing and low minimum order quantities without contracts along with “60 days interest-free credit,” according to the announcement.
TradeSquare also used the certified pre-constructed link for Adobe Magento, which Mirakl says simplified an expedient rollout. The company received out-of-the-box marketplace functionalities needed to foster a up-to-date B2B purchasing experience along with “powerful” tools for vendors by teaming with Mirakl, according to the announcement.
The marketplace solution of Mirakl is supported by the international experience gained through more than 300 fruitful marketplace rollouts, with the inclusion of those for Toyota Material Handling, Siemens and Hewlett Packard Enterprise, according to the announcement.
The news comes as Mirakl, which is based in France, landed $300 million in a funding round per news in September.
The investment, which was headed up by United Kingdom-based investment company Permira, values the upstart at $1.5 billion, a company official told Bloomberg at the time.
Mirakl can be called a unicorn, or a company worth over $1 billion, at that valuation.