Omnyway raises $12.75M to connect advertising and mobile commerce

website_design-creating_personal_concepts-undefined

Omnyway raises $12.75M to connect advertising and mobile commerce

1920 1080 Pro Web Design



website_design-creating_personal_concepts-undefined

Omnyway announced today that it has raised $12.75 million in Series A funding.

Previously known as OmnyPay, Omnyway has built technology around what it calls “augmented digital commerce” — basically, helping retailers stay connected to consumers through their mobile phone during the in-store shopping process. That includes loyalty programs, coupons and what CEO Ashok Narasimhan described as a “seamless” mobile payment process at checkout.

This can all be integrated into a retailer’s existing app. The technology is also powering Kohl’s Pay, the mobile payments and loyalty program that the department store chain launched last year.

Narasimhan told me that the funding will help the company grow its new Zapbuy product, where users can scan an ad (which could be shown on TV or printed in a magazine — basically, anywhere you can display a QR code), then buy the product with a single click or tap.

Narasimhan argued that this will be “pretty revolutionary” for advertisers, because it will give them a much better return on investment for their campaigns. And while Zapbuy could appeal to the retailers that Omnyway is already working with, he said it will also allow the company to expand to new customers — “anyone who does advertising, not just retailers.”

In addition, the funding is supposed to help Omnyway expand globally. It certainly comes from an international group of investors, with the round led by Nyca, CommerzVentures (the venture arm of Germany’s Commerzbank Group) and the CreditEase Fintech Investment Fund (part of China’s CreditEase). Commerce Ventures and Industry Ventures also participated.



Source link

    How Can We
    Help You?

    Performance and Simplicity exists side by side.

    Contact Pro Web Design and tell us about your next project and we will make sure it is successful. Let us do what we do best.

    website_design-creating_personal_concepts-undefined website_design-creating_personal_concepts-undefined
    1920 1080 Pro Web Design

    briangonzalez/gridss

    httpss://github.com/briangonzalez/gridss

    read more
    website_design-creating_personal_concepts-undefined website_design-creating_personal_concepts-undefined
    1920 1080 Pro Web Design

    Standing Out From The Crowd: Improving Your Mobile App With Competitive Analysis

    The mobile app industry is arguably one of the most competitive industries in the world. With around 2.8…

    read more
    website_design-creating_personal_concepts-undefined website_design-creating_personal_concepts-undefined
    1920 1080 Pro Web Design

    How developers will work in 2018

    What does 2018 hold for developers? What trends will change the way they work? TNW spoke to developers…

    read more

    Creatives – Design, Marketing, Support

    Working Hours: 08:00 – 17:00

    Email: contact[at]prowebdesign.co.za

    Phone: +27 76 260 2730

    We Love Your Feedback