ShopCircle
“Can a roll-up of e-commerce SaaS apps evolve into the AI-native operating layer (and embedded financier) for online merchants?”
Founded2021
HQLondon, United Kingdom
FoundersLuca Cartechini, Gian Maria Gramondi
Total raised$387.11M
Latest roundDebt - $100M credit facility (i80 Group, Dec 2025)
IndustryHorizontal SaaS / E-commerce
The story
Founded 2021 as a roll-up of best-of-breed Shopify apps, ShopCircle has pivoted in 2024-2025 toward a broader 'AI-native home for mission-critical B2B software' positioning — acquiring beyond pure Shopify apps (e.g. Aiden) and building embedded financial products like Shop Circle Capital. The company sells software to merchants and embeds revenue-based financing on top via Liberis, while financing its own acquisition pipeline through i80 Group debt.
Product timeline
2021
Founded in London by Luca Cartechini and Gian Maria Gramondi as an acquirer of Shopify apps.· pivot
2024
Launched Shop Circle Capital, embedded revenue-based funding powered by Liberis.· lending
2025
Raised $60M Series B led by Nextalia Ventures; acquired Aiden (AI guided selling).· acquisition
2025
Expanded i80 Group credit facility to $100M to fund further B2B SaaS acquisitions.· lending
The stack
1 layer disclosed in ShopCircle’s embedded-finance stack
Lending
LiberisShop Circle Capital (powered by Liberis)
Accounting gap: minor