Magento, an open-source cloud-based e-commerce platform, says it has grown by "more than 100 per cent in Europe".
Magento currently has anywhere between 168,000 and 235,000 e-commerce stores on its platform, according to AionHill.com.
Statistics published two years ago claim that Magento processed transactions totalling $25 billion when it had just 65,000 customers.
Magento itself says, on its website, that it has 150,000 developers and a network of more than 300 solution partners.
The company says its recent growth has come from both the business-to-business and the business-to-consumer sectors.
Magento says its "strong momentum is a result of continued investment in the region, expansion of its global partner ecosystem, and the platform's ability to provide merchants with the flexibility needed to deliver highly differentiated customer experiences".
The company says that more than 60 per cent of merchants on the Magento e-commerce platform operate hybrid B2B/B2C and B2B2C models.
Organisations are increasingly seeing the business benefits of cloud platforms and solutions, with 88 per cent of UK organisations adopting cloud last year, according to the Cloud Industry Forum.
Magento Commerce Cloud represented over 40 per cent of the company's new licenses in 2017 and is the platform of choice for customers of all sizes, including Christian Louboutin and Big Bus Tours.
Additionally, the expansion of the Magento ecosystem of developers and partners has helped to drive further innovation and growth.
Europe alone has seen a 20 per cent increase in newly certified B2B and B2C partners, claims Magento.
This growth is a strong indicator of the levels of innovation, collaboration, and overall vibrancy of the Magento Developer Community.
Brian Green, director of EMEA, Magento Commerce, says: "Businesses across Europe, Middle East, and Africa are driving digital transformations that include experiences that span online, offline, commerce, data and logistics.