Ecommerce & Consumer Annual Report 2025

Ecommerce Funding Activity

Ecommerce Financing by Year (In Billions of USD)

Total Deal Size in ($B) # of Deals

1,229

1,180

While the market has experienced a correction in recent years, new indicators show lasting potential in the sector. The turnaround in FY 2024 provides a positive outlook for Ecommerce.

1,028

778

Key trends:

6.7

9.2

6.8

8.1

• Funding Volume: Ecommerce funding volume increased significantly in 2022 and 2023 as economies continued to rebound from the pandemic. Ecommerce saw 18.6% growth in 2024 as compared to 2023. • Seasonal Patterns: 2024 consistently saw spikes in both funding and deals, possibly driven by end-of-year strategic investments and holiday season relevance. • 2024 Peak: Funding reached $8.1 Billion in 2024, with a record 1,229 deals, showcasing investor optimism and heightened activity in the sector. • Potential for Growth: Seeing such sharp rise in volume in 2024 is signals robust growth potential in the sector.

2021

2022

2023

2024

Financing Volume by Quarter (In Billions of USD)

Total Deal Size in ($B) # of Deals

391

311 306

302

282 265 272

277 269

232

264

241 229

181 198

156

0.9 1.7 1.8 2.3 2.7 2.6 2.1 1.6 1.6 1.4 1.8 2.0 1.8 2.0 2.5 1.8

Source: Pitchbook as of 31 December 2024. Data consists of transactions where deal value was disclosed, and deal size was $0 to $150M. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 2024

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