Omnyway announced today that it had raised $12.75 million in Series A funding to fuel its global reach to connect advertising and mobile commerce.
The start-up company, earlier known as OmnyPay, empowers retailers, banks, and brands to build a contextual digital commerce ecosystem. The system encourages shoppers to use their mobile phone for all aspects of their buying journey. This San Francisco, CA-based amplified digital commerce platform, closed on $12.75M in Series A funding, today. Nyca, CommerzVentures, the venture arm of Commerzbank Group of Germany, and CEFIF, the CreditEase of China, with the contribution of Commerce Ventures, Industry Ventures, and others led the round.
The funding will help the growth of OmnyWay’s new Zapbuy product, launch new services on its current appropriate commerce platform and inflate its customer base in U.S and worldwide. With the development of Zapbuy, users can scan any ad, shown anywhere and purchase it with a single click or tap.
Narasimhan said that this would turn out to be revolutionary for advertisers because it would give them a much better benefit on investment for their campaigns. He further noted that Zapbuy would fascinate the retailers that Omnyway is already teamed up with, it will also give consent to the company to expand to new customers, quoting Narashimhan, “anyone who does advertising, not just retailers.”
The CEO also said, “To keep up in this fast-moving, mobile-first (and soon, mobile-only) world, retailers need tools that speak to how people want to shop and engage today. This investment puts us in a great position to build on growth and continue innovating on today’s fundamentally different retail experience.”
Han Morris, the Managing Partner of Nyca, says, “Every single retailer is seeking ways to make customer experiences seamless, customized, and integrated in-store and across channels. This has turned out to be expensive and difficult, and the flexibility, security, scalability, and speed to market of the Omnyway platform are a compelling solution.”