The six-year-old floral importer has a commitment for about $25 million. Privately-held Interprise put $28 million into World Commerce in 1999
The new funding will be used to launch FreshPlex, an online marketplace for the international fresh produce industry. The company continues to develop its online networks for global commercial buyers and sellers.
World Commerce borrowed $5 million earlier this year to ease its cash-flow condition. For the quarter ended June 30, the company lost $8.6 million or a 56 cents-a-share drop, on sales of $46,740. That compares with a loss of $1.7 million or 12 cents-a-share decline in the comparable 1999 period.
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