A retail software company born out of shuttered rapid delivery player Jiffy has raised $3m in funding.
Cloud Retail offers an “all-in-one e-commerce platform” covering web and mobile store development, a warehouse management system, demand forecasting, replenishment, third-party logistics and delivery management software, and business analytics platforms.
It has also developed a proprietary AI solution that “helps effectively launch a retail business from scratch, shortening the preparation time from five months to as little as one week”.
The company came to be in 2022 following the demise of quick-commerce company Jiffy, which at its peak operated 21 stores across London and delivered more than 4,500 orders daily. The “major strategic pivot” saw Marat Bolatov and Artur Shamalov shift their focus to software and building a “full-cycle operational retail management ecosystem”.
Cloud Retail’s client base spans the UK, Europe, and the MENA region, including customers such as Carrefour and Circle K.
The funding round was led by Somersault Ventures with participation from Pre-Seed to Succeed, backed by Altair Capital, Yellow Rocks, Smart Partnership Capital, and I2BF Venture Capital, as well as AddVenture and angel investors.
“We love partnering with clients who need a full stack, easy-to-use, enterprise-grade solution across almost all industries,” said Bolatov, CEO of Cloud Retail. “This financing will help further enhance the product and roll it out across even more segments and countries.”
While MENA has been the company’s primary market, it is based in the UK and expansion here is “the key objective for us in 2025” Bolatov told The Grocer.
“The mission of Cloud Retail is not just to support our clients, we root for them,” said Anastasia Sarapulova, Cloud Retail product manager. “This makes their success more than just business – it’s personal to the team.”
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