Home / News / Omnyway raises $12.75M to connect advertising and mobile commerce

Omnyway raises $12.75M to connect advertising and mobile commerce


omnyway raises 12 75m to connect advertising and mobile commerce - Omnyway raises $12.75M to connect advertising and mobile commerce

Omnyway introduced these days that it has raised $12.75 million in Series A investment.

Previously referred to as OmnyPay, Omnyway has constructed era round what it calls “augmented digital commerce” — mainly, serving to outlets keep attached to customers via their mobile telephone all the way through the in-store buying groceries procedure. That contains loyalty systems, coupons and what CEO Ashok Narasimhan described as a “seamless” mobile fee procedure at checkout.

This can all be built-in right into a store’s present app. The era could also be powering Kohl’s Pay, the mobile bills and loyalty program that the dep. shop chain introduced closing 12 months.

Narasimhan advised me that the investment will lend a hand the corporate develop its new Zapbuy product, the place customers can scan an advert (which might be proven on TV or published in — mainly, any place you’ll be able to show a QR code), then purchase the product with a unmarried click on or faucet.

Narasimhan argued that this might be “pretty revolutionary” for advertisers, as a result of it is going to give them a significantly better go back on funding for his or her campaigns. And whilst Zapbuy may attraction to the outlets that Omnyway is already running with, he stated it is going to additionally permit the corporate to make bigger to new shoppers — “anyone who does advertising, not just retailers.”

In addition, the investment is meant to lend a hand Omnyway make bigger globally. It definitely comes from a global crew of traders, with the spherical led via Nyca, CommerzVentures (the project arm of Germany’s Commerzbank Group) and the CreditEase Fintech Investment Fund (a part of China’s CreditEase). Commerce Ventures and Industry Ventures additionally participated.

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