Seedrs Success Poq Raises €3.6M During Series A Funding Round

Seedrs success and cloud platform, Poq, announced this week it has secured €3.6 million during a Series A funding round, which was led by Beringea with participation from seed investors Seedcamp and Venrex.

The London-based  company, which raised £332,390 through the equity crowdfunding platform in 2014, is a commerce platform for retail apps of over 30 retailers, including House of Fraser, Missguided, Steven Alan, Radley and Blue Inc.

Oyvind Henriksen, CEO and co-founder of Poq, reportedly stated:

Poq 2“The app economy is the world’s fastest growing economy. Our platform is no exception, having already hit £100m in app revenue and growing 600% year-on-year. Our mission is to drive more revenue through our platform than previous-generation web-based commerce platforms, through more advanced native app technology. Apps provide the best shopping experience on mobile, where customers are logged in forever and can pay with a fingerprint, and retailers who don’t offer apps will lose out to those who do. We are really excited about closing this funding round and continuing to lead the app commerce revolution.”

Rob Hodgkinson, investment director at Beringea added:

Poq 1“At Beringea, we are experienced in working with ecommerce businesses and we love that Poq’s offering is helping many mainstream retailers create shopping apps to complement their main ecommerce sites and bridge the gap between online and in-store. The true value for retailers in working with Poq is not just that they can quickly build well designed, functional shopping apps that unify brand experience, but the data that they gain from having customers logged into the app. Poq also rolls out new code each week, so their clients’ apps are never out of date. Other retail apps are often eight or nine months in the making and already out of date by the time they get to market.”

The company declared the funds from the round will be used to continue development of its team and expand internationally.

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