Source2Sea
Source2Sea is a Copenhagen-based digital marketplace that connects vessel crews and shipping company purchasers with marine suppliers, enabling real-time digital procurement of provisions, stores, and spare parts across 340+ ports in 40+ countries.
- Company typePrivate
- Founded2021
- HeadquartersKøbenhoved, Denmark
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Source2Sea does
Source2Sea A/S is a Copenhagen-based digital marketplace that digitizes marine procurement and supply between vessel crews, shipping company purchasers, and ship suppliers. Founded in December 2021 as an independent legal entity funded by the Wrist Group, with platform development supported by BCG Digital Ventures, the company operates a cloud-based multi-supplier marketplace covering provisions, stores, bonded goods, spare parts, paints, chemicals, and lubes, available in over 340 ports across more than 40 countries.
The platform is structured around dedicated portals for vessel crews, purchasers, suppliers, and catalog management, unified by a shared data foundation that standardizes product images, specifications, and buyer-specific pricing. Source2Sea differentiates technically through Punch-Out catalog integrations with the three leading Fleet Management Systems (SpecTec/AMOS, Shipnet ONE, and RINA Digital Solutions/SERTICA), enabling buyers to access the marketplace without leaving their existing enterprise platforms. Disclosed operational outcomes include a reduction in order cycle time from 35 hours to 1 hour and a 20% performance uplift in ordering.
The company's revenue model combines marketplace commissions on transactions between maritime buyers and suppliers with catalog management services for suppliers, on a quote-based pricing model with no public tiers. Go-to-market is enterprise-led, targeting large shipping companies (notably MSC, which has onboarded all 700+ vessels) and leveraging FMS partnerships for distribution. Source2Sea remains privately held and wholly backed by the Wrist Group, with no external institutional or venture capital funding disclosed.
Source2Sea firmographics
Firmographics- Name
- Source2Sea
- Legal name
- Source2Sea A/S
- Website
- https://source2sea.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Source2Sea is a Copenhagen-based digital marketplace that connects vessel crews and shipping company purchasers with marine suppliers, enabling real-time digital procurement of provisions, stores, and spare parts across 340+ ports in 40+ countries.
- Ownership category
- akta.pro rank
Where Source2Sea is headquartered
LocationHeadquarters
- HQ city
- Københoved
- HQ country
- Denmark
- HQ region
- Europe
Offices1 record
Markets served
Source2Sea business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Marketplace Commission: Source2Sea operates as a marketplace platform taking commission on transactions between maritime buyers and suppliers. Suppliers pay to list products and transact on the platform.
- Catalog Management Services: Facilitates catalog management for suppliers, providing platform infrastructure for product listings, images, descriptions, and buyer-specific pricing.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Source2Sea product offering
Product offeringCore offering
Source2Sea operates a cloud-based digital marketplace platform that enables real-time marine procurement between vessel crews, shipping company purchasers, and ship suppliers. The platform offers customer-tailored product catalogs with images, specifications and transparent pricing, smart ordering tools, configurable approval workflows, and integrations with leading Fleet Management Systems (SpecTec AMOS, Shipnet ONE, RINA SERTICA). Available in 340+ ports across 40+ countries, it covers provisions, stores, bonded items, spare parts, paint, chemicals, and lubes.
Product overview
Source2Sea is a digitalized global marketplace and multi-supplier platform for marine supply and procurement. The core product is the Source2Sea Digital Marine Platform — a cloud-based marketplace that connects maritime buyers (shipping companies, vessel crews, purchasers) with suppliers, enabling transparent digital ordering and fulfillment across provisions, stores, bonded items, spare parts, paint, chemicals, and lubes. The platform is offered alongside specialized portals: the Buyer Portal for vessel purchasers to manage requisitions, purchase orders, and approval workflows; the Catalog Management Portal for managing product data, descriptions, images, and buyer-specific assortments and pricing; the Vessel Application for crew members to browse catalogs and place orders at sea; and the Supplier Portal for suppliers to process orders and manage inventory. All components share a unified data foundation and integrate via Punch-Out catalog connections into leading Fleet Management Systems (SpecTec AMOS, RINA Digital Solutions SERTICA, and Shipnet ONE). The platform is available in over 340 ports in more than 40 countries.
Differentiator
Problem solved
Functional benefit
Products and services
- Source2Sea Digital Marine Platform A cloud-based, open multi-supplier digital marketplace for marine procurement and supply, enabling maritime buyers and suppliers to trade with transparent prices, digital catalog management, and real-time ordering. Covers provisions, stores, bonded items, spare parts, paint, chemicals, and lubes, with delivery across a port network spanning 340+ ports in 40+ countries.
- Source2Sea Buyer Portal Web-based portal for vessel purchasers and shipping company procurement teams to manage requisitions, purchase orders, and approval workflows. Provides a consolidated inbox for tracking all orders with port of delivery and cost details.
- Source2Sea Vessel Application Application interface for crew members to browse product catalogs, search products by category (Frozen, Dry, Fresh Provisions, Deck and Cabin), compare products with standardized units of measurement, and place orders directly from the vessel.
- Source2Sea Supplier Portal Portal for ship suppliers to manage orders, process order fulfillment, update product availability and pricing, and integrate with existing ERP and order management systems for seamless transaction processing.
- Source2Sea Catalog Management Portal Portal for suppliers and buyers to manage product catalog content, including item descriptions, product specifications, images, pricing, and assortment configuration. Enables customer-tailored catalogs with buyer-specific pricing.
Quantifiable outcome
- Order cycle time reduced from 35 hours to 1 hour
- +3 more outcomes
Companies that use Source2Sea
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles2 records
Source2Sea technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
Source2Sea partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- SpecTeccoreGlobal partnership combining SpecTec's leading Fleet Management System AMOS with Source2Sea's digital marketplace. The integration enables SpecTec users to access Source2Sea's platform for transparent catalog ordering with images, product descriptions, and prices. Purchasers gain full transparency on spending at detailed and consolidated levels, enabling data-driven decision making.
- ShipnetcorePunch-Out integration allows Shipnet users to access Source2Sea's marketplace without leaving Shipnet. Optimizes ordering processes onboard and eliminates manual building and maintenance of procurement product data. Maintains approval flows and work queues familiar to Shipnet customers while enabling 'what you click is what you get' ordering.
- RINA Digital Solutions (SERTICA)corePunch-Out catalog partnership allowing shipping companies to access Source2Sea's online marketplace directly from SERTICA Fleet Management System. Users get automatically logged onto Source2Sea with pre-agreed customer-specific catalogs including images, product descriptions, and buyer-specific prices. All transaction details saved in SERTICA after order completion.
Scale indicators6 records
Recent moves6 records
Expansion highlights5 records
Source2Sea competitors and assessment
Company assessmentBroad incumbents
- ZeroNorth: Maritime performance optimisation platform covering vessel operations, commercial, and compliance. Operates adjacent workflows but overlaps with Source2Sea's digital procurement stack.
- Ocean Technologies Group: Maritime digital solutions provider covering crew management, operational systems, and procurement-adjacent software. Overlaps with Source2Sea's digital workflow ambitions for shipping companies.
- Coupa: Large enterprise procurement and spend management platform. Adjacent incumbent that could, in theory, expand into maritime procurement workflows from outside the industry.
- Kongsberg Maritime: Large maritime technology incumbent with broad vessel operations, navigation, and digital offerings. Overlaps in the broader maritime digitalisation space and could expand into procurement workflows.
- Veson Nautical: Provider of commercial maritime software (IMOS Platform) for voyage, vessel, and commercial operations. Larger established player in maritime digital software addressing overlapping shipping company workflows.
Direct peers
- Voyageur Portal (Marcura): Procurement and catalogue platform for the maritime industry run by Marcura. Directly competes with Source2Sea in digitalising onboard ordering and requisition management.
- Marcura: Maritime digital solutions group that owns ShipServ, Voyageur Portal, and BunkerEx. Competes in maritime procurement digitisation and has a similar two-sided marketplace model for shipping.
- ShipServ: Maritime e-procurement marketplace (now part of the Marcura Group). Operated a similar buyer-supplier procurement model for marine supplies and is the most direct comparison to Source2Sea's offering.
Emerging players
- BunkerEx: Online marketplace for marine bunker fuel procurement. A narrower-scope marketplace precedent in maritime procurement that demonstrates the digitisation opportunity Source2Sea is pursuing for provisions/stores.
Others
- Wrist Group: Parent company and founding sponsor of Source2Sea; one of the largest global ship suppliers and a strategic ecosystem participant on the platform.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Source2Sea social profiles
Digital presenceSource2Sea financial estimates
Financial estimateRevenue estimate
Valuation estimate
Source2Sea leadership team
Management profileNumber of profiles
Profiles1 record
Source2Sea funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Source2Sea M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Source2Sea
What does Source2Sea do?
Source2Sea operates a cloud-based digital marketplace platform that enables real-time marine procurement between vessel crews, shipping company purchasers, and ship suppliers. The platform offers customer-tailored product catalogs with images, specifications and transparent pricing, smart ordering tools, configurable approval workflows, and integrations with leading Fleet Management Systems (SpecTec AMOS, Shipnet ONE, RINA SERTICA). Available in 340+ ports across 40+ countries, it covers provisions, stores, bonded items, spare parts, paint, chemicals, and lubes.
Is Source2Sea a public or private company?
Source2Sea is a private company. It is classified as corporate owned and is currently operating.
When was Source2Sea founded?
Source2Sea was founded in 2021. It employs 11 to 50 people.
Where is Source2Sea based?
Source2Sea is headquartered in Københoved, Denmark, in the Europe region.
How does Source2Sea make money?
Two revenue lines are on record. Marketplace Commission is the primary driver. The others are catalog Management Services.
Who are Source2Sea's main competitors?
Broad incumbents on record are ZeroNorth, Ocean Technologies Group, Coupa, Kongsberg Maritime and Veson Nautical. Direct peers are Voyageur Portal (Marcura), Marcura and ShipServ. BunkerEx is listed as an emerging player. Wrist Group is listed as an others.
Does Source2Sea have an API?
No public API is recorded for Source2Sea.