Shopify, has announced the closing of an USD100m Series C investment. The new round of funding will help the company fully expand their recently launched offline retail offering.
“Shopify began as an easy way to sell products online. We used our previous funding rounds to expand into new areas that enriched our product and helped our merchants, like payments and mobile,” said Tobias Lütke, Founder and CEO at Shopify. “This new round of funding will help us further expand into physical retail with Shopify POS, so our merchants can easily sell their products anywhere at any time.”
“In the past few years Shopify has democratized online retail by delivering the easiest and most robust platform to businesses looking to sell a product. They have demonstrated that they truly understand the future of commerce, and we are very excited to see them conquer the offline retail world as well,” said Jim Orlando, Managing Director at OMERS Ventures.
By providing a way to sell in-store and online, Shopify has helped shift the power of commerce from large retailers into the hands of entrepreneurs and smaller merchants. In the week of Black Friday and Cyber Monday, Shopify stores sold over USD100m in products.
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