Symphony Commerce secures €2.4 million to strengthen its global B2B e-commerce platform
Symphony Commerce, formerly known as Shopblocks, has raised €2.4 million in a funding round aimed at expanding its operations in the global B2B enterprise market. The Stockport-based company is leveraging this investment to roll out new platform features and enhance its presence among B2B clients. The funding round included participation from NPIF II – Mercia Equity Finance, managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II), along with contributions from Mercia’s EIS funds, the Greater Manchester Combined Authority (GMCA), and private investors.
Following the rebranding to Symphony Commerce, the company is refining its platform to meet the demands of larger enterprises. As explained by Kevin Jones, Founder and Chief Technology Officer, the funding will allow the company to grow its team and deliver improved services, giving businesses the tools they need to stay ahead of competitors. “This investment allows us to scale faster, expand our team, and deliver a superior customer experience,” said Jones.
Founded in 2015 by Kevin Jones and Stewart Reynolds, the company has since grown to serve over 2,000 customers, including major brands such as Toshiba, Giacom, Daisy Telecom, and Tower Housewares. Over the past 18 months, Symphony Commerce has nearly doubled its annual recurring revenue (ARR) to €1.6 million. The company now aims to triple that figure within the next three years, with new growth strategies supported by this recent round of investment.
With total funding reaching €7.2 million, the company plans to enhance its platform with additional features and integrations tailored to B2B operations. Symphony Commerce offers wholesalers, distributors, and manufacturers a solution to create customized e-commerce sites, customer portals, and product catalogs. Its platform is designed to address specific challenges in the B2B space, such as managing complex customer pricing models, personalized discounts, and client-specific experiences. It integrates with key enterprise resource planning (ERP), financial, and marketing tools to streamline business operations under one system.
The Northern Powerhouse Investment Fund II initially backed the company in 2023, reflecting its mission to drive sustainable growth by supporting innovation and increasing access to finance for businesses across the North of England. By investing in early-stage firms like Symphony Commerce, the fund aims to create local opportunities and break down barriers that hinder companies from securing necessary funding.
Robert Hornby of Mercia Ventures emphasized the company’s growth potential, highlighting its ability to address B2B-specific challenges that many other platforms cannot. “Symphony Commerce solves a number of complex challenges for B2B companies that other platforms are unable to deal with. With a new brand and fresh investment, we believe the right foundations are in place to help the business pursue this goal,” Hornby said.
As the company continues to expand its customer base and refine its offerings, it seeks to establish itself as a key player in the global B2B sector, utilizing its latest investment to enhance its position in the market.
