B2B electrical product distributor Sonepar has teamed up with Software-as-a-Service (SaaS) provider Mirakl to create France’s first B2B electrical supplies distribution marketplace.

“Through the development of this innovative eCommerce platform — the first to be compatible with Sonepar’s B2B customers’ purchasing methods — Sonepar aims to provide its customers with the most comprehensive product and service offering on the market,” the company said in a press release Wednesday (April 20).

The companies plan to launch the marketplace in the fourth quarter of the year, part of Sonepar’s plan to become the world’s first electrical equipment distributor to offer customers a fully digitalized and synchronized experience.

“By developing the first electrical equipment distribution marketplace for professionals in France, Sonepar is confirming its very strong omnichannel ambitions,” said Jérémie Profeta, Sonepar’s chief digital enterprise officer.

Philippe Corrot, co-founder and co-CEO of Mirakl, added: “With more than 80 percent of business buyers stressing the importance of breadth of choice and quality of shopping experience, building a marketplace enables a B2B company to develop an additional revenue stream while better serving the needs of its customers.”

Last year, Mirakl added invoice compliance expertise to its offering by acquiring French startup Octobat, a move designed to help Mirakl customers manage local and international regulations as they expand worldwide.

Read more: Mirakl Acquisition Builds Strength in Cross-Border Invoicing for B2B Marketplaces

“For the first acquisition in Mirakl’s history, we looked for an opportunity that would keep us ahead of customer needs,” Corrot said at the time. “With Octobat, we saw we could simplify and automate complex invoicing for marketplace operators across the globe, enabling them to scale faster than ever.”

Also in 2021, Mirakl raised $555 million in a Series E funding round led by Silver Lake, taking its valuation to $3.5 billion, more than double the amount from a year earlier.

See also: SaaS Firm Mirakl Nets $555M to Expand eCommerce Offerings

As PYMNTS noted at the time, Mirakl has thrived as businesses have continued to digitize due to the pressures of consumer demand, decreased margins and other digital competitors.

NEW PYMNTS DATA: THE FUTURE OF BUSINESS PAYABLES INNOVATION STUDY– APRIL 2022

About: While over half of SMBs believe that an all-in-one payment platform can save them time and improve visibility into cash flows, 56% believe that the solution could be difficult to integrate with existing AP and AR systems. The Future Of Business Payables Innovation Report, a PYMNTS and Plastiq collaboration, surveyed 500 SMBs with revenues between $500,000 and $100 million to explore how all-in-one solutions can exceed SMBs’ expectations and help future-proof their businesses.

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