Mirakl, the industry’s first and most advanced SaaS platform for enterprise marketplaces, has announced Payout, a new solution for enterprise marketplaces that dramatically simplifies the financial complexity of international expansion. This new solution, which will launch with early access in the second half of 2022will extend Mirakl’s unrivaled ability to provide online marketplaces with the technology and expertise to scale without limits.
Payout simplifies the expansion of the international marketplace
In a highly competitive e-commerce environment, marketplace operators must stay ahead of the curve by attracting and retaining the highest quality sellers, regardless of their location. Integrating international sellers presents new challenges in terms of financial complexity, regulatory compliance and licensing, foreign exchange, and other nuances that vary from market to market. Payout, Mirakl’s new global payment platform, streamlines marketplace payment activities to meet the needs of both operators and sellers. Unlike current fintech solutions, Mirakl’s new payment tool is tailored to meet the specific needs of marketplace operators and sellers and will seamlessly integrate with Mirakl’s platform and workflow. Mirakl Marketplaceincreasing operational efficiency.
Payout is the first product in a suite of future financial services aimed at helping market operators and vendors run, scale and grow their businesses, while producing additional long-term revenue streams for Mirakl.
Payout simplifies the global payment process for carriers, enabling them to increase gross merchandise value (GVM) by adding more top-tier global sellers without dealing with the hurdles of regulatory compliance and the burden of management and regional licenses. Payout effectively manages the vendor onboarding and know-your-customer requirements (KYC), regulated custody, foreign exchange, and refund reserve management, maintaining compliance regardless of carrier or seller region. The initial availability of the solution will begin in the fall of 2022 through an early access program or early access.
New features fuel rapid marketplace growth
The second annual report Enterprise Marketplace Index de Mirakl concludes that online marketplaces grew twice as fast as traditional eCommerce, while the number of companies that started selling on marketplaces increased 46% from 2020 to 2021. For this reason, Mirakl is including new functionalities in its marketplace platform, including new product data mapping and AI-powered customer service intelligence, which take the quality of customer experience in the marketplace to the next level. . Mirakl has also announced FastTrack onboarding to accelerate the activation of sellers and the integration of their catalogs in Mirakl Connect. And with the introduction of One Creditor, a new platform business model, Mirakl clients will be able to meet the needs of large corporate buyers with a single transaction.
These new features build on the company’s recent momentum, which includes two major financial milestones. In 2021, Mirakl exceeded $100 million in annual revenue recurring with more than 4,300 million dollars of transactions in its marketplaces. Additionally, in 2021, Mirakl closed $555 million in Series E financing led by Silver Lake, taking the company’s valuation to over $3.5 billion, an increase of 230% in one year.