E-commerce solution platform Mobify closes $15m funding round

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Canada-based e-commerce technology provider Mobify has closed a $15m round of funding.

The investment saw commitments from Vistara Capital Partners, Impulse International, Comerica Bank, and technology industry investors. The investment is part of the $10m funded by Acton Capital, BDC Capital and Plaza Ventures earlier in the year.

Mobify is a mobile-based e-commerce platform for retailers to help them access an online platform to sell their products and accept digital payments. The company’s technology is used by merchants including Superdry, Crabtree and Evelyn London, Pure Formulas, Lancome Paris, and Vince Camuto, among others.

This round of capital will be used to expand the company’s partnerships and boost the innovation of its progressive web app. Through the technology development the company hopes to improve the customer experience, increase usage and push more purchases.

Vistara Capital Partners vice president Noah Shipman said, “Every brand and every retailer needs to focus on improving the online shopping experience in order to survive in today’s world. With mobile being the undisputed prime point of customer interaction, Mobify has been out in front in solving this enormous problem of converting mobile-first consumers into revenue.”

Following the latest round of capital injection brings Mobify’s total funding to around $27m, with the company picking up a $12m round last year.

Copyright © 2017 FinTech Global

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