London, England, United Kingdom
Shop Circle is a technology holding company that acquires and scales mission-critical B2B software businesses using AI-driven infrastructure. Founded in 2021 by Luca Cartechini, the company began in the Shopify app ecosystem and has since expanded into manufacturing and supply chain software. The firm operates a buy-and-hold model, combining equity and debt capital to fund acquisitions and then applying a centralized AI team, called CircleX, to improve automation, developer productivity, and product innovation across its portfolio.
As of May 2026, Shop Circle reported approximately $45 million in ARR across its portfolio of 15 to 20 acquired products, up from $30 million at the end of 2025, representing roughly 100 percent year-over-year growth. The company targets $60 to $70 million in ARR by year-end 2026 and a longer-term milestone of $100 million. EBITDA margins stand at approximately 35 percent, producing around $10 million in EBITDA on the 2025 revenue base.
Shop Circle has raised more than $200 million in total capital, split roughly equally between equity and debt. The equity component spans five rounds, from a $1.5 million angel round in early 2021 through a Series B extension in 2025, with institutional backing from QED and NFX. The debt facility, initially provided by TriplePoint Capital and now held with IAT, carries interest in the high single digits and gives the company more than $100 million in deployable capital over the next 12 months.
