Crown, a Paris-based e-procurement platform founded in 2024, has secured €2 million in pre-seed funding to enhance its online auction services aimed at revolutionizing procurement practices.
About Crown
Founded in 2024 in Paris by Mykyta Voytenko, Crown is an innovative B2B e-procurement technology firm that streamlines the purchasing process through its online auction platform. This cutting-edge solution replaces traditional methods such as spreadsheets and emails, resulting in faster, more transparent, and efficient negotiations, enabling businesses to finalize deals in just 20 minutes.
According to Voytenko, typical negotiations yield savings of 3-4%, while an auction can achieve price reductions of up to 10%. This increase of 6% significantly impacts the key performance indicators (KPIs) of procurement teams, driving them to adopt Crown’s platform due to its demonstrated efficacy.
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Industry Overview in Ukraine
The e-procurement landscape in Ukraine has been shaped by the pioneering public e-procurement system Prozorro, which effectively utilizes auction mechanisms to enhance transparency
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HEARTFELT_
invested in
Crown
in 2024
in a Pre-Seed Stage deal
Disclosed details
Transaction Size: $2M