Starting as an equity research analyst at Jefferies, Luca Cartechini spent the early days of his career analyzing European internet companies, far from the front lines of tech development. His growing interest in the tech sector eventually drew him into venture capital, where he supported early-stage startups. Leveraging that experience and teaming up with a longtime friend, Cartechini co-founded Shop Circle about four and a half years ago.
In this interview with The Software Report, he reflects on the shift from investor to entrepreneur and how, with his co-founder and early team, he managed the many roles needed to build the company. “When you start a company on your own, you have to do a bit of everything,” he says.
Cartechini and his co-founder, who have been close friends since business school, brought complementary skills—he focused on finance while his partner handled operations—which helped them share responsibilities and meet the demands of a growing business. “I like to think that we’re still best friends despite working closely together,” he adds.
Cartechini describes Shop Circle as a software group that acquires the best mission-critical products, handles the heavy lifting founders don’t want, and “super charges everything with AI so businesses grow faster, run leaner, and operate smarter.”
After raising nearly $180 million and completing 16 acquisitions, the company owns over 30 products serving 130,000 businesses. Typical acquisition targets have “proven product-market fit and a steady revenue stream.” Luca says, “We don’t just keep them alive. We like to significantly accelerate the pace of product innovation after the acquisition.”
Shop Circle now has 300 employees across offices in Europe and North America, with half its revenue coming from the U.S. and growing traction in South America and Southeast Asia. After closing a new funding round, the company has about $100 million to invest over the next year. “We’re looking for tools with sticky customer bases, usually with more than two, three million ARR,” Cartechini says. A lean team manages everything from sourcing deals to post-acquisition integration—something he considers core to how the business runs.
As Shop Circle grows, Luca is careful about the investors he brings on board. “I try to categorize investors based on their expertise,” he says. “I don’t want investors giving advice on everything.” It’s the same way he leads Shop Circle: focused, selective, and hands-on.