Top 5 Fast-Growing Ecommerce Startups (2022)

The coronavirus pandemic accelerated growth in the eCommerce space. In fact, in 2020, eCommerce spending skyrocketed up 44% YoY to over $861B in the U.S. The global eCommerce market is seeing similar growth, with total sales slated to reach nearly $5.5T in 2022. Nearly everything, from authentic Chinese food to cars to cannabis, can be purchased online. These top 5 eCommerce startups show the vast range of companies that can flourish in this space.

1. Snackpass

5-year search growth: 3950%

Search growth status: Exploding

Year founded: 2017

Location: San Francisco, California

Funding: $95.6M (Series B)

What they do: Snackpass is an online food ordering platform with an emphasis on pickup orders. The startup first saw success at its founders’ university, Yale, when they captured 80% of the institution as customers shortly after launch. Snackpass, which closed a Series B funding round amounting to $70M in mid-2021, now operates in 13 college town markets and serves around half a million customers.

2. HungryPanda

5-year search growth: 1125%

Search growth status: Exploding

Year founded: 2016

Location: London, England

Funding: $220M (Series D)

What they do: HungryPanda is a food delivery startup focused on Chinese cuisine and groceries. Their main target audience is roughly 50M Chinese people and students living abroad. The company raised $70M in late 2020, bringing their total 2020 (and all-time) funding to $90M. They aim to use the funds to expand their app into even more locations.

3. OnBuy

5-year search growth: 3150%

Search growth status: Exploding

Year founded: 2016

Location: Poole, United Kingdom

Funding: $60.1M (Series A)

What they do: OnBuy is an online eCommerce marketplace founded in 2016. The company offers safe transactions, competitive prices, a wide range of products, and claims to prioritize the success of its buyers and merchants by abstaining from any kind of selling themselves. The platform brought in £35M in a Series A+ funding round in mid-2021.

4. Leaflink

5-year search growth: 191%

Search growth status: Regular

Year founded: 2015

Location: New York, New York

Funding: $379M (Series C)

What they do: LeafLink is a wholesale cannabis eCommerce startup aimed at servicing B2B retail customers. Their eCommerce marketplace, which they say has over 30% wholesale cannabis market coverage in the U.S., helps retailers and brands alike streamline their operations. In late 2020, LeafLink announced a $40M funding round that they plan to use to add more businesses to their platform and advance into newly legalized markets.

5. Jungle Scout

5-year search growth: 51%

Search growth status: Regular

Year founded: 2015

Location: Austin, Texas

Funding: $110M (Private Equity)

What they do: Jungle Scout is an eCommerce platform that helps entrepreneurs leverage Amazon to sell products. Their platform offers customers solutions to manage inventory, conduct product research, find suppliers, and more. Though the company is mainly Amazon-centric now, they are eyeing expansion to cover solutions for other online retail platforms, such as Walmart.com.

Information Sources: INTERNET


 

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Top 5 Fast-Growing Ecommerce Startups (2022)
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