Helsinki-based OpenOcean has closed a EUR3.9M financing round led by B2B, an early-stage venture-capital firm in Europe.

The funding round was led by Miki Kuusi, Marianne Vikkula, and Ilkka Paananen, from Wolt. Robert Gentz, from Zalando and Lifeline Ventures were Droppe’s current investors.

Tom Henriksson is OpenOcean General Partner. He says: “Through Droppe’s Source-to Order platform, buyers have the easiest way to order, source and manage products that are essential to their operations.”

Droppe is more than an online distribution channel for brands. It offers a scalable system for managing orders and a powerful data engine to deliver actionable insights about matching demand and supply. This helps brands understand how they can expand their market share, and enter new markets in Europe.

“Droppe’s strong founders have proven their ability to develop an online product that can be used by both small and large companies in Europe. We are proud to be able to support Johannes and Henrik on their next journey.”

A source-to-order platform

Droppe, founded in 2020 by Johannes Salmisaari & Henrik Helenius has developed a Source to Order platform for businesses. Droppe anticipates that 80 per cent of all B2B sales by 2025 will be done online.

The platform is designed to meet the digital preferences of today’s buyers, allowing them to easily source, order and manage supplies such as safety gear, workwear, paper products and packaging materials.

Droppe allows direct supplier-to customer transactions, eliminating the need to store, repackage, and other logistics associated with moving products from brands into businesses.

This streamlined approach increases efficiency and supports the creation of shorter, more sustainable supply chains throughout Europe. Droppe claims that businesses can achieve their sustainability goals and contribute to a more sustainable future through its platform.

Over 150 leading European brands, specialising in safety products, workwear, packaging, and paper, have adopted Droppe’s Source-to Order Platform as a strategy to capture and expand the growing online market.

Droppe’s Source to Order platform is used by 150 European brands that specialize in safety equipment, paper products, packaging materials, and workwear.

Capital utilisation

The funding will enable Droppe to achieve its mission of transforming B2B distribution by moving away from the traditional methods that have been in place since the early 2000s and towards a modern digitally-focused method.

Salmisaari, the co-founder of Droppe, says: “We are in a very exciting phase, both for the company and market. With increased adoption of technology and millennials taking on buyer roles, business purchasing decisions are changing.

“The culture is shifting away from transactions made with salespeople via emails, physical visits and phone calls to digital experiences that streamline the purchase decisions and enhance collaborative management and coordination for recurring orders.”

Droppe will use the funds to improve its platform and meet online customer expectations for B2B clients. They also plan to hire new commercial talent in Helsinki, Cologne and other European cities to support their growing customer base.

Helenius, co-founder of Droppe, says, “The funding will help Droppe expand our database of suppliers and products, as well as their technical product and standard information. This will allow buyers to source and order products more efficiently and objectively.

Droppe will also focus more on supporting procurement and operations teams in Europe, helping them to manage the purchasing of their operation supplies, giving them greater control over their operation.

“We’ve seen a need for such a platform and are excited about expanding our offering.”