Omnyway secures $12m to help launch new services

Augmented digital commerce system Omnyway, has secured a $12.75m Series A funding round to help with launching new services.

The equity round was led by Nyca, CommerzVentures and CEFIF, with participation from Commerce Ventures and Industry Ventures, among others.

Omnyway creates an augmented digital commerce ecosystem to mix a customer experience in the physical store to the digital world. Founded in 2014, the platform helps retailers, banks, and brands to encourage a consumer to use their mobile phones throughout the shopping experience, b linking it to a digital shop.

Through the application a user is able to have once scan checkout system, with the best prices and offers applied for the buyer.

This capital will help Omnyway to grow it operations and launch new services on its commerce platform. The company is also hoping to expand its customer base in the US as well as globally.

Omnyway CEO Ashok Narasimhan 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.”

This new funding brings total raising efforts by Omnyway to up to $14.25m, with the company receiving a $1.5m round in 2014.

At the start of the year, Nyca Partners closed its second FinTech vehicle on $125m. The new fund saw contributions from 10 institutional investors and 29 Limited Partner Advisors.

Copyright ? 2017 FinTech Global

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