Retail app builder Poq has bagged ?3.5m in its latest funding round, following the company revenue tripling after one year.
Beringea led the investment, with Meyer Bergman and Barclays also contributing to the fundraise.
Poq is a SaaS-based platform for iOS and Android, enabling retailers to create their own shopping apps for their stores. The app is built on Poq platform, allowing for real-time updates and access app data to gain awareness of customer shopping habits.
The platform has been used with big name retailers including House of Fraser, Missguided, Holland & Barret, Belk, Made.com, among others. Over the past year the company has expanded its partnerships, joining with PayPal and Facebook Login.
Capital from the round will be used to increase its customer base through large and international retailers. Funds will also be used to further platform development to allow its in-house developers to customise their apps themselves.
Oyvind Henriksen, CEO and co-founder of Poq, commented: ?The app economy is growing at a miraculous speed. A recent report estimates that by the end of 2021, it will be worth $6.3 trillion globally. Mobile commerce is the single largest driver of growth in this sector, and with mobile transactions becoming more and more convenient we expect this trend to continue. The development of apps to support this growth is crucial.p>
Total funds received by Poq has reached ?7m, with the company picking up $4m last year.
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