Pricemoov Raises $10 Million for Price Management Tool

French cloud company Pricemoov has raised $10 million to expand its price management tool.

The Series A funding round, announced in a Wednesday (April 12) press release, arrived during a difficult capital environment for European companies. It will allow Pricemoov to add to its team, invest in technology and expand internationally.

Based in Paris, Pricemoov said in the release its technology helps businesses make better pricing decisions and remain profitable.

“The challenges surrounding pricing are constantly increasing as businesses navigate inflation, supply chain disruptions, and cost volatility,” the company said in the release. “This is further complicated by the omnichannel imperative, competitive pressures, and rapidly changing customer expectations.”

PYMNTS looked at how these changing expectations are impacting pricing decisions in the grocery field in an interview last week with Sean Turner, co-founder and chief technology officer at retail technology company Swiftly.

He said that consumers have become very deliberate about how they decide where they will purchase their groceries.

“Shoppers are clipping more coupons,” Turner said, adding that consumers have become more focused on plotting out their trips to the supermarket.

“They’re really trying to compare prices across different stores,” he said. “They might go to the Walmart website or app and see what the product costs there, then launch one of our retailer’s apps like Save Mart’s app or the 99 Cents Only app and search for the same product there to see where it’s cheapest or where they can get a coupon or a discount.”

Meanwhile, Europe’s late-stage startups are having trouble landing funding. There has been a 53% drop in global funding as investors pull back. In Europe, that means startups have raised just $10.6 billion during the first three months of the year, down 66% from 2022.

Speaking with PYMNTS earlier this month, Zeynep Yavuz, FinTech partner at early-stage venture capital firm General Catalyst, addressed the potential these companies have to capture the VC dry powder in Europe as growth-stage firms struggle with a challenging market.

“I believe it’s an amazing time to build a company, and because the funding market has slowed down in the growth and late-stage space, a lot of the capital is shifting to early-stage,” Yavuz said.

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