360 onlineprint enters British market after attract investment of 20.4M dollars
The Portuguese company 360 onlineprint, founded in 2013, is expanding its sales territory and is now also active in the United Kingdom. This strategic decision has been taken after receiving funds amounting to 20.4 million dollars (15,5 million pounds), which will be also used to extend their range of products and invest in technology and R&D. The investment round was led by LeadX Capital Partners, a brand by Hospitality Digital GmbH based in Düsseldorf, and accompanied by Omnes Capital (France), Pathena (Portugal) and the 200M fund, which is managed by PME Investimentos and co-financed by the European Union, through funds from the European Regional Development Fund.
With a consolidated presence in Portugal, Spain, Brazil and Mexico, the marketing products and services company has also entered other new markets: Germany, Austria, Belgium, Canada, Denmark, the United States, Finland, France, Holland, Italy, Ireland, Norway, Poland, Czech Republic, Switzerland and Sweden.
“At 360 onlineprint, we have a history of sustained growth and this is the mentality we want to maintain. Therefore, now that we have a solid platform, an extended range of products and we have expanded our team, we are confident that now is the right time to enter these markets. This investment round has given us the necessary support to take this big step", said Sérgio Vieira, CEO of 360 onlineprint.
360 onlineprint ended 2018 with a turnover of 21 million euros, representing an increase of almost 80% over the previous year. In 2019, they anticipate a turnover of 35 million euros; however, the company's objective (taking into account its entry into new markets) is to reach 100 million euros in sales in 2021.
Leader of the Portuguese market, 360 onlineprint has a 60% share of the online market, with a portfolio that includes more than 400 products, within 7 ranges (small format, large format, stamps, magnets, gifts, textiles and design services), fulfilling 4,500 orders per day. Taking into account the company's objective to meet all marketing needs of its current and potential customers, one of the priorities defined for the next three years is to increase their selection of products to 20,000. This new range of services would include products such as bags, packaging and consumables associated with the manufacture and shipment of orders, magazines, catalogues, books and derivatives, roll labels and several sub-ranges of products for the Horeca channel.
Based on a fabless ("without fabrication") business model, 360 onlineprint is an e-commerce platform focused on offering its customers (SMEs and professionals) do-it-yourself solutions, which allows for the evolution of all printed products and associated services. One of the elements that sets this company apart is their technology that, thanks to intelligent aggregation software, allows them to guarantee customers the lowest prices on the market.
With a team of 200 employees, the technology-based e-commerce platform aims to increase its workforce by more than 100 people in 12 months.