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Tundra, a new zero-commission wholesale marketplace, has today announced the close of $12 million in Series A funding. The round was led by Redpoint’s Annie Kadavy, with participation from investors such as Initialized Capital, Peterson Ventures, FJ Labs, Switch Ventures, and Background Capital.
Tundra was founded by married couple Arnold and Katie Engel, who previously ran a global supply chain company called Vox Supply Chain. In that world, they quickly realized just how much inefficiency is built into the wholesale market, from disorganized trade shows to transaction fees from the incumbents to a business that’s largely done on phone with pen and paper.
That’s where Tundra comes in.
Tundra allows suppliers to list their product on the platform, which is built to look and feel like a B2C marketplace. Buyers can come on the platform and shop for products, complete with ratings and reviews, supplier performance metrics, and free shipping with easy tracking.
Market - Businesses - Platforms - Distributors - Percent
“The wholesale market is set up to benefit big businesses, with other platforms and distributors charging anywhere from 5 percent to 30 percent commission,” said Engel. “That can be particularly pronounced for small businesses.”
Plus, it can be perilous for small players to depend on big platforms like Amazon. Just a few weeks ago, there were rumors that Amazon would focus its attention on big brands like P&G and purge smaller suppliers from the platforms. Amazon denied the rumors, saying it evaluates suppliers on an individual basis.
Tundra - Hope - Time-consuming - Process - Deals
For Tundra, the hope is to eliminate both the time-consuming and tedious process of negotiating deals at trade shows...
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