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Greece’s Convert Group raises €1.2M to bring e-commerce visibility to FMCG

Convert Group, a startup based in Athens that offers a SaaS to help FMCG (fast-moving consumer goods) brands understand how they are performing across e-commerce, has raised €1.2 million in seed funding.
The investment comes from Uni.fund, which is backed by the EquiFund investment platform (an initiative created by cooperation between the Hellenic Republic and EIF). It is the first time the otherwise bootstrapped company has taken external funding since being founded in 2014 and initially offering e-commerce consultancy.
The startup’s core product — dubbed “eRetail Audit” — is described as an online platform that provides e-commerce market share data for “sell-out” consumer products (in value, units and volume). It does this by partnering with various large e-commerce platforms and stores — in data-for-data deals — in order to then be able to serve up real-time aggregated data to its own FMCG brand clients.
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