POD firm becomes Latvia’s first unicorn – valued at over USD 1 billion
Print-on-demand firm Printful has recently carried out a private placement of USD 130 million from investment firm Bregal Sagemoun. The transaction values Printful at more than USD 1 billion, which makes the firm a so-called unicorn (a startup with a valuation of more than USD 1 billion).
Printful was established in Latvia and is the country’s first unicorn. The new money from Bregal Sagemoun will be spent on new products, services and expansion in new channels and countries.
Printful is said to have reached a growth in turn over of almost 80 per cent in 2020, and posted a turn over of just below USD 200 million during 2020. The company was established in 2013 and has since the start sold more than 32 million refined products.
The company is integrated with many major e-commerce players such as Shopify, Etsy, Woocommerce, Wix, and Squarespace and is helping content creators with production and distribution of a whole range of print-on-demand products.
In order to handle production and distribution, Printful has more than 1,800 employees and eight different production facilities and a further five production partners.
In the Linkedin article below you can see Printful founder Davis Siksnans on the cover of the latvian magazine IR Magazine, in connection with the private placement.