The company, which provides a digital wholesale platform to smaller brands focusing on sustainable goods, said it will use the funds to grow its global operations and technology. Altos Ventures led the round, with participation from existing investors including Golden Ventures and Susa Ventures. (The Logic)

Talking point: The company said it also received US$5.6 million in grants from a number of philanthropic organizations. That money will be used to help some makers in Africa and other markets access PBP’s wholesale platform and provide them with more financing options. Founded in 2021, PBP works with thousands of brands in more than 70 countries. Buyers that have an online or brick-and-mortar store must sign up to its platform to purchase goods—from categories including decor, jewelry and beauty. Sellers must confirm they meet some standards, including no child labour and paying a living wage. PBP recently partnered with West Elm to provide the homeware retailer with some of its clients’ products. “Retail is changing, and the best retailers are looking for unique, values-driven merchandise from diverse brands in order to attract and hold the attention of customers,” said CEO Ella Peinovich-Griffith, in a press release.