Commerce platform Omnyway raises $12.75m in Series A funding
In a round led by Nyca, CommerzVentures, and CEFIF, augmented digital commerce platform Omnyway has raised $12.75 million in new funding, reports David Penn at Finovate (Banking Technology‘s sister company).
The Series A will give Omnyway (formerly Omnypay) the ability to launch new services, expand operations, and add to its customer base both in the US and around the globe.
“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,” Omnyway CEO Ashok Narasimhan says.
He added that the funding would enable the company to “continue innovating on today’s fundamentally different retail experience”.
This retail experience involves putting mobile at the centre of the shopping experience. The company’s platform helps retailers leverage in-store, online, and in-app interaction channels, as well as virtual aisles and dynamic media to engage customers in a “dynamic, digital, and thoroughly omni-channel way”.
Available as a white-label solution, the technology integrates with legacy back-end systems and existing mobile apps, and has been used by retailers like Kohls to add payment functionality to their apps.
Founded in 2014, Omnyway is headquartered in San Francisco, California.