Digital River’s pivot from legacy technology company to agile solutions provider yields results by simplifying ecommerce for a growing client base
Digital River, an experienced global commerce enabler for established and fast-growing brands, announced today it signed a record-breaking number of new clients in the second quarter of 2021, outpacing 2020’s Q2 performance by 66% (YoY). The second quarter also saw the company expand into new verticals while leveraging partnerships to make its global seller services available on an increasing number of platforms. More brands can now access Digital River’s industry-leading solution for payments, taxes, compliance and fraud mitigation using the platform of their choice to expand their global footprint and grow revenue through both onshore and cross-border commerce.
Read More: SalesTechStar Interview With Rob Rosenthal, Chief Revenue Officer At Bloomreach
“Innovation is about challenging the status quo”
Digital River’s growth follows the transformation of the company in 2019 from a full-stack provider of ecommerce services to an ecosystem partner offering flexible API solutions for check-out functions for companies of all sizes.
Digital River also reported the following for H1 2021:
- Closed 75% more client deals in H1 2021 than in H2 of 2020
- Closed 36% more client deals in H1 2021 than in H1 of 2020 (YoY)
Digital River clients have also been scoring wins with Digital River solutions, booking 27% growth in gross sales volume (YoY) in H1 2021 compared to H1 2020.
“Innovation is about challenging the status quo,” said Digital River CEO Adam Coyle. “Digital River has always been transformative, and what we’ve done over the past two years to meet the needs of our customers goes beyond just changing our solution from a full-stack legacy ecommerce company to an API-based company. We’ve democratized ecommerce so clients in a range of sizes and verticals can grow globally, knowing they have an expert solution in place to protect their business and offer their shoppers the best experience possible.”
Celebrating new clients
Digital River welcomed a number of new clients in Q2 of 2021 including:
- Ahrefs – This Singapore-based software company is recognized for excellence as a provider of SEO tools and educational marketing materials. Ahrefs is using Digital River’s API to optimize payment solutions for its customers and maintain better control over its data.
- Core Health and Fitness – This company is a powerhouse in the commercial sports and fitness industry, including brands like StairMaster, Schwinn, Star Trac, Nautilus and Throwdown. Digital River is helping Core Health and Fitness bring its B2C store for home fitness products to life.
- Felco SA – Felco is recognized as maker of high-quality, Swiss-made precision cutting and pruning tools. Digital River’s Merchant of Record and Seller Services solution has enabled greater efficiencies for Felco by offloading and simplifying its back-office processes.
Read More: NorthStar Mentioned In 2021 Gartner Hype Cycle For Security Operations And 2021 Gartner Hype Cycle…
Constant innovation for better client performance
Digital River’s solutions are constantly evolving to add more features and improve performance on behalf of clients. Q2 of 2021 was particularly busy including the addition of a new plugin on the WordPress.org marketplace which enables Digital River’s solution on the WooCommerce platform.
Additionally, Digital River unveiled the latest update to its extension available on the Magento Marketplace. The improvements include Tax ID management, store credit and VAT invoicing.
Digital River’s updated B2C LINK cartridge for Salesforce Commerce is also now live, adding line level regulatory fee landed cost functionality for cross border commerce as well as global tax exemption support and other updates.
Expanded Buy Now, Pay Later options
As Buy Now, Pay Later (BNPL) payment options gain market share around the world, Digital River continues to expand its BNPL solutions across payment types as well as countries including:
PayPal Credit & Pay in 3
- United Kingdom
PayPal Pay in 4
- Australia (Pay in 4)
- France (Pay in 4)
Klarna
- Belgium
- Italy
- Spain
- Switzerland
Additionally, TreviPay, a global fintech company providing B2B brands a seamless ecommerce check-out experience with options for buyers to pay on their preferred terms, has expanded its line of credit program with flexible net term billing options. As a result, Digital River clients can now offer this branded line of credit program in 14 countries to provide B2B buyers a more consumer-like experience, while increasing conversion rates and brand loyalty.