Customised Merchandise Startup, Bizay Raises $19.78 Million in Series C2 Funding Round
The internet has revolutionized the marketing industry, especially for merchandise, and the trend towards custom clothing has further fueled this. Benefiting from this trend is the Lisbon-based startup, Bizay, which has recently secured a significant funding round of €18 million ($19.78 million) to expand its operations to the US market.
This funding round, referred to as Series C2, was led by Indico Capital Partners, along with the participation of Iberis Capital and Lince Capital. This brings Bizay’s total funding to €72 million ($79 million). While the company has not disclosed its current valuation, outside observers estimate it to be between $180-$220 million.
The global custom apparel market is booming, with a projected value of over $70 billion by 2028. Bizay has attributed its success to its efficient supply chain system for product customization, reducing costs and broadening its range of product offerings. The company now offers custom-branded watches, in addition to traditional merchandise such as clothing.
Co-founder Jose Salgado emphasizes the growing trend of customization across various segments and Bizay’s ability to cater to both small and large quantities of custom merchandise. The company has optimized its supply chain, allowing for cost savings and efficient production.
E-commerce opportunities are expanding, not only for small and medium-sized enterprises but also for influencers looking to monetize their social platforms. Hashtags such as #TikTokMadeMeBuyIt indicate the popularity of influencer marketing. Bizay competes with print-on-demand shops, positioning itself as a more versatile and independent option.
The company intends to expand its operations to the US market, replicating its success in Europe and South America. The collapse of companies like Silicon Valley Bank has even led to demand for their branded merchandise, signaling the potential scarcity and allure of custom merchandise from failed companies.
Bizay’s innovative approach and efficient supply chain have positioned it to capitalize on the growing trend of custom merchandise. The startup’s Series C2 funding is a testament to its potential for further growth and expansion.
