Smooth Commerce, a mobile payment and marketing platform for retailers, has announced a $2 million round of growth financing.
The round included new and existing investors including institutional investor Skunkworks Investment Corporation, which contributed $500,000. The company will be using the investment to enhance its product, complete additional technology integrations, and build its team.
“We are thrilled by the investor response to our growth round financing,” said Brian Deck, CEO of 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.”
Smooth Commerce’s platform makes mobile apps that allow retailers’ customers to pay, collect loyalty rewards, and redeem discounts on a single platform.
Deck credits the company’s success to support from its innovation partners, including the Ontario Centres of Excellence, MaRS, the DMZ, Ryerson Futures, and Communitech. These organizations helped the company make a transition from a startup to an early-stage growth company.
In the last year, Smooth Commerce has been working to make progress in its product, partnerships, and market development. Deck spoke to the importance of partnerships at TechTO in early August, where he spoke to the importance of finding partners that can help companies sell through more products.
The company hopes to launch its new mobile apps for Smokes Poutinerie, Basil Box, and major new features in the Balzac’s Coffee Roasters app by the end of the year.
Photo via Smooth Commerce
