Bulgarian e-commerce startup Rush has been acquired by London-based Shop Circle, which has assumed full management of Rush. As of now, both companies are in the process of transition, it will take a few months to fully implement the new strategy.
- Established in 2019 by Kiril Kirilov and Stanislav Stankov, Rush develops an app that assists drop shippers, independent merchants, and e-commerce companies in turning their shipment tracking pages into marketing tools. Additionally, the app has integration modules with Shopify, offering a SaaS solution for order tracking and notifications, enabling seamless post-purchase communication between Shopify merchants and their clients.
- The startup claims that it's trusted by over 2,800 international brands on Shopify and Shopify Plus, which results in up to a 30x ROI.
- In 2022, Rush closed a €2.5 million seed round backed by Eleven Ventures, LaunchHub Ventures, and several business angels. The capital was used to expand its team and develop the product.
“Scaling a successful SaaS requires time, effort, funds, resources, a strong network, brand presence, continuous partner nurturing, and a million other micro steps. While the core Rush team managed to grow both the number of Shopify stores and MRR drastically in the second half of 2023, maintaining the right velocity long-term in a competitive market required a lot more than a small yet committed team,” CEO of Rush, Mario Peshev, commented.
- The buying company Shop Circle is British and has been providing e-commerce software since 2021. Shop Circle claims to have quickly developed more than 40 successful e-commerce apps in just 3 years and has significantly changed how Shopify works in a short time.
