Poq closes £9.5M Series B for its ‘apps-as-a-service’ for retailers

May 2, 2018 · techcrunch.com

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Poq, the London-based startup that offers a SaaS to make it easier for retailers to launch and maintain a consumer-facing shopping app, has raised £9.5 million in Series B funding. Leading the round is Smedvig Capital, with participation from previous backers Beringea, and Revolt Ventures. It brings the total amount raised by Poq to £16.5 million since the company was founded in 2011.

A fairly early entrant into the so-called ‘apps-as-a-service’ space, Poq’s pitch is that it enables retailers — with a particular focus on ‘pureplay’ or multichannel brands — to create their own e-commerce app at a fraction of the price of using a traditional app development agency or doing it all in-house. The company counts the likes of House of Fraser, Missguided, Pretty Little Thing, Holland & Barrett, Hotel Chocolat, Fragrance Direct, and Made.com as clients.

"Our platform is the result of years of focus on retail apps and is proven to increase conversion rates and revenue," Øyvind Henriksen, CEO and co-founder at Poq, tells TechCrunch. "New code is rolled out every week and major releases delivered every quarter".

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