OneStock announces $72m funding injection as it targets US growth

OneStock SAS, the company backed by Refined Capital Partners (RCP), has received a major investment from global growth equity investor Summit Partners. 

It has invested $72 million in the French order management systems specialist. The cash will be used to fuel OneStock’s continued international expansion, particularly into the US market, and to “help accelerate the company’s vision for a retail landscape where order management is seamless and easy”.

The new funding will also see management changes as RCP’s stake reduces.

Ben Barnett, outgoing Chairman at OneStock and Founding Partner at RCP, said: “It has been a privilege to work alongside the OneStock team and to participate in the transformative growth of this exceptional retail technology business. I am delighted to hand over the reins to the team at Summit Partners and look forward to participating in OneStock’s continued development under their stewardship.”

The Toulouse and Paris-based company, which also has offices in London and Milan, was founded in 2015 by CEO Romulus Grigoras, and CTO Benoît Baccot “to help retailers and brands navigate the increasing complexity of the omnichannel landscape and enhance overall customer experience”.

Its cloud-native solution provides a centralised platform designed to manage end-to-end order fulfilment and visibility and it’s used by retailers including Jigsaw, Hackett, The Perfume Shop, Dune and Moss.

It has grown fast in recent years and despite its initial focus on the fashion sector has also moved into industries such as luxury goods, car parts, pet food and furniture. More than 100 international retailers and brands across 25 countries use it with the platform facilitating over €2.5 billion in orders annually.

RCP’s team led the seed funding round for OneStock in 2019, retaining a significant minority shareholding following the €11 million investment from Pan-European private equity firm Silverfleet Capital in 2021.