French Startup Mirakl Scales Revenue 50% as Marketplace Business Booms

French ecommerce startup Mirakl saw its gross merchandise value (GMV) soar by 50% to reach $8.6 billion for the full year 2023, marking significant growth for the company’s innovative marketplace platform business. Additionally, the company achieved profitability for the first time in the crucial fourth quarter with its flagship marketplace reporting its maiden operating profit.

Backed by marquee investors like Silverlake, Permira, Elaia Partners and Felix Capital, Mirakl offers a powerful software solution that allows businesses to launch and scale their own online marketplaces. Its platform empowers companies to sell not just their private labels but also curate and bring a wide range of third-party products onto their digital storefronts. This unique marketplace-as-a-service model has clearly resonated with clients across industries.

Recurring revenue from Mirakl’s steadily expanding customer base saw a 20% uptick to hit $160 million last year. November was a standout month with the platform crossing the $1 billion mark in GMV — demonstrating the momentum driving the French company.

While the successful startup remains well capitalized after a $555 million raise in 2021, co-CEO Adrien Nussenbaum clarified that going public is not an immediate priority. Mirakl will instead focus on deepening its product leadership and commercial excellence.