Poq, the ecommerce agency that proved the attain energy behind most of the apps utilized by a few of the UK’s greatest retailers has raised an extra £3.5 million to assist additional broaden its buyer base.
Poq is a market-leading SaaS platform for cell app commerce. It permits retailers to create purchasing apps for his or her prospects, one thing that increasingly more retailers are doing. The corporate is predicated in Shoreditch, London but additionally has places of work in New York.
The funding has been led by a earlier investor Beringea, with further funding coming from Meyer Bergmann, a privately held actual property funding administration agency and Barclays. The newly introduced funding deliver the quantity of funding within the London based mostly tech startup to £7 million.
Oyvind Henriksen, CEO and co-founder of Poq believes that the app financial system, which is reportedly set to be price over $6 billion by 2021 nonetheless has some approach to go earlier than it has reached its full potential and capability. A lot of this progress will likely be pushed by cell gross sales, one thing that Poq is nicely positioned to profit from.
“The app financial system is rising at a miraculous velocity. A latest report estimates that by the tip of 2021, it is going to be price $6.3 trn globally.
“Cell commerce is the one largest driver of progress on this sector, and with cell transactions changing into increasingly more handy we anticipate this development to proceed. The event of apps to help this progress is essential.
“Poq is devoted to creating the transition to cell as easy as attainable for retailers. With our customer-centric method to app design, our apps present the very best expertise for purchasers when purchasing on the go.
“We’re extremely fortunate to have obtained continued help and enthusiasm from Beringea over the course of our journey, and we’re excited to see what alternatives this subsequent spherical of funding will deliver us.”
Eyal Malinger, an funding director at Beringea have been impressed with the efficiency of Poq since their preliminary funding, making the choice to take a position additional a straightforward one to make. He mentioned:
“Now we have been extremely impressed with Poq’s speedy growth in such a brief time frame. Yr-on-year, Poq’s revolutionary platform attracts increasingly more mainstream retailers to create purchasing apps to complement their most important websites, bringing the purchasing expertise to life through cell. Poq is an economical and technically superior different to the costly and monolithic retail apps that companies sometimes ship.
“Poq is on the forefront of defining the app commerce class. Its method combines an understanding of customer-centric design with the technical savviness required to combine with main ecommerce platforms corresponding to Salesforce Commerce Cloud, SAP Hybris, Oracle ATG and Magento. We’re excited to help the crew because it develops the worldwide presence of the corporate and continues to assist massive and worldwide retailers enhance the service they supply to their prospects.”
