Printify Bags $ 45 Million, Led By Index, To Ride The Custom Printing Boom
The designer economy loves merch, which is great news for custom print-on-demand startups like Latvia-based Printify.
The mission: to continue to develop its global printing market to meet the growing demand for personalized products shipped.
Also participating in the fundraising round: H&M Group, Virgin Group, as well as the founders of Transferwise, Vinted, Squarespace, RedHat and entertainment industry investors including Will Smith’s Dreamers VC and NBA player Kristaps Porzingis.
TechCrunch understands that Printify’s post-currency valuation is just over $ 300 million.
Creator-driven and e-commerce platforms like Patreon and Shopify – which cater to individual sellers building micro-brands (whether they are designers, content creators, e-commerce entrepreneurs, or other very online scammers) – help drive demand for personalized products like t-shirts, mugs, stickers, etc., expanding the print and on-demand shipping market.
Printify says it now connects some two million merchants with to print suppliers around the world – and shipping one million units per month.
It has also grown to employ nearly 500 people, doubling its workforce over the past year, with now a plan to add 200 more positions by the end of the year.
“Our main audiences are creators, entrepreneurs; most of our traders are people who want to start a side business and earn money on top of their main income. However, we are also seeing strong growth in creators and entrepreneurs who use Printify as a service that helps grow their core business, ”the startup told TechCrunch.
It is one of many custom printing startups that have positioned themselves to step in to tackle large-scale printing and shipping, often building multi-year businesses from a large base. smaller. (Others in the space include Printful, Gelato, and Zazzle.)
The founder of 2015 Printify has a little less years in the business than some of his rivals, but he claims it has allowed him to focus more on serving the micro-brand building traders who are now triggering such boom in demand for customized products.
“Printify gives everyone the opportunity to earn extra income,” he says when asked about the competitive mix – emphasizing the selection, quality and price of products as a special sauce, in more of its market’s global footprint, which means it can print and ship products to meet the demand of traders around the world.
“These are the key aspects that our traders are looking for,” he adds. “Printify provides the widest selection of print-on-demand products for creators and merchants to sell online. Plus, Printify offers the lowest prices, while ensuring high and reliable standards of quality.”
The most popular products sold by merchants using its marketplace are “classics” – that is, t-shirts, hoodies, stickers, mugs, posters and hats.
“We are also seeing a rapidly growing market for baby and children’s products, sportswear, pet products and beverages,” he adds. “Most merchants choose Printify because of our wide selection and geographic flexibility – we have over 370 products in our catalog and are adding more each week, printed in over 100 locations around the world.”
Commenting on the Series A funding in a statement, Dino Becirovic, Director of Index Ventures, said: “Printify is the leading market for on-demand manufacturing, offering the widest choice of print products and suppliers. They have removed all barriers to the product. creation and has enabled over 2 million creators to launch successful merchandise businesses with the push of a button. Over time, as more manufacturers go online and more methods become available, Printify will allow any designer to bring their craziest product ideas to fruition. “