Smooth Commerce Closes $2MM Growth Round Financing

TORONTO, Nov. 27, 2017 /CNW/ - Smooth Commerce, a fully integrated mobile payment and marketing platform for retailers, is pleased to announce the successful, on-schedule completion of a $2,000,000 growth round financing. Both new and existing investors participated in the round, including an institutional investor, Skunkworks Investment Corporation, who contributed $500,000.

"We are thrilled by the investor response to our growth round financing," observed Brian Deck, CEO, Smooth Commerce. "It's a validation of the progress we have made as a company over the last year and ensures we will have the resources to deliver on the exciting opportunities currently in the pipeline."

The last 12 months has seen Smooth Commerce make significant strides in product, partner and market development. The platform technology powering Smooth Commerce apps has been enhanced to give merchants powerful new tools to manage their customer engagement and marketing initiatives. By the end of the year, Smooth Commerce will have launched new mobile apps for Smokes Poutinerie, Basil Box, and major new features in the Balzac's Coffee Roasters app, with a robust pipeline of opportunities in multiple verticals in development. Smooth Commerce continues to invest in cutting-edge innovation work with major industry players, such as with Ingenico Group's new Tetra platform and marketplace. Such collaborations poise Smooth Commerce to bring game-changing innovations in mobile commerce to the market.

In addition to an enthusiastic response from investors, Deck credits much of the success Smooth Commerce has enjoyed to the long-time support of partners in innovation such as the Ontario Centres of Excellence, MaRS Discovery District, DMZ, Ryerson Futures, and Communitech. These organizations provided the foundational support that helped facilitate the evolution of Smooth Commerce from a "start-up" to an early-stage growth company.  

"Our success has been a total team effort – the leadership of a proven management team, a high-calibre Board and Advisory Group, our investors, industry partners and customers," reflected Deck. "But the best is very much yet to come."

Smooth Commerce will be using the investment proceeds to further enhance the product, complete additional technology integrations, build the team, and execute on opportunities in the pipeline.

About Smooth Commerce
Smooth Commerce builds branded native mobile apps for merchants that activate their customers through mobile payment, order ahead, loyalty rewards, offers and promotions customized to be most relevant to the user. The platform's powerful business tools deliver rich data analytics that provide valuable insights into customer behaviour, the ability to manage and analyze targeted campaigns, and drive improved operational efficiencies, increased sales and profitability.

SOURCE Smooth Commerce

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