Shop Circle raises £73.3m led by Nextalia Ventures with Primo Capital
At a glance
This article covers the extended Series B on 16 September 2025 at Shop Circle, a London-based software group that acquires and scales AI-native B2B software, founded by Luca Cartechini and Gian Maria Gramondi. The round totals £73.3m, led by Nextalia Ventures with participation from Primo Capital.
What does Shop Circle do?
Shop Circle provides an AI-native enterprise software platform that acquires and operates mission-critical B2B applications. It automates operations, centralises services and helps enterprises scale and manage software efficiently.
Why is Shop Circle useful?
Problem
Modern enterprises face fragmented, inefficient software ecosystems that hinder growth and operational efficiency.
Solution
Shop Circle acquires and scales mission-critical B2B software, embedding AI to automate operations and boost margins. It centralises operations and drives scale through automation to improve customer engagement and efficiency.
How much did Shop Circle raise?
Shop Circle raised £73.3m ($100m) in an extended Series B, combining £44m ($60m) in equity with strategic capital, led by Nextalia Ventures alongside Primo Capital.
Who invested in Shop Circle?
Key investors include:
- Nextalia Ventures: a Europe-focused venture capital firm known for backing enterprise and scale-up software businesses.
- Primo Capital: a VC specialising in B2B SaaS and growth-stage technology companies across Europe.
- CDP Venture Capital: the strategic investment arm of Italy's national promotional institution, active in supporting technology and industrial growth.
- 645 Select Fund: a strategic fund targeting enterprise technology opportunities with a transatlantic orientation.
- FNDX: a growth-oriented investment vehicle concentrating on SaaS platforms and developer infrastructure.
- FG2 Capital: an investor that focuses on scaling B2B platforms and operational software for enterprises.
- Entrepreneurial family offices backed by leading industrial and technology groups: a group of family-backed investors providing strategic industry connections and long-term capital.
If you're researching potential backers in this space:
- Explore our list of AI venture capital firms in the UK
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Who founded Shop Circle?
The founders of Shop Circle are Luca Cartechini (co-founder and CEO) and Gian Maria Gramondi.
Where is Shop Circle based?
Shop Circle is based in London, UK.
What sector is Shop Circle in?
Shop Circle operates in the enterprise software sector. This sector makes software that helps businesses run operations and serve customers. In plain terms, it builds the digital tools companies use every day.
Key trends and challenges in enterprise software:
AI as an architectural foundation
Vendors embed AI across whole products to automate tasks, for example using generative models like GPT.
Consolidation through roll-ups
Investors and operators acquire niche B2B tools to centralise operations and scale product suites.
Fragmented software ecosystems and integration
Large organisations juggle dozens of apps, creating integration headaches and duplicated data.
For a deeper look at innovation in this space, see the latest funded AI startups in the UK
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