NewStore, the Mobile Retail Platform founded by the German serial entrepreneur Stephan Schambach, just announced it has secured $50 million in Series B funding. Activant Capital, who led the round, joins returning investors General Catalyst and Stephan Schambach. The round cements NewStore as the dominant player in mobile commerce. Total capital raised to-date now stands at $90 million. The Boston- and Berlin-based company will use the fresh capital to expand its mobile retail platform and rollout the solution for retailers looking to realize their omnichannel aspirations.
Founded in 2015, the company provides a Mobile Retail Platform, which is probably the most customizable end-to-end solution for delivering anytime, anywhere retail. Built mobile-first with a modern software stack, it works with all existing ecommerce platforms and eliminates the need to patch together disparate point solutions.
Stephan Schambach, the Founder and CEO of NewStore stated: “The future of retail is mobile. We are the only platform that delivers a full end-to-end omnichannel experience, from app to aisle. We take care of the heavy lifting for retailers, so they don’t need to spend precious resources on software development.”
Consumers have fundamentally changed, and retail must transform for the mobile age in order to build relationships and keep loyal customers. The NewStore Mobile Retail Platform seamlessly connects consumers to associates and products.
“Shopping has become a streaming activity. Consumers want to check inventory, browse products, place orders and write reviews at their own convenience – on a mobile phone. They can create a shopping experience at anytime they want, tailored specifically for them.” Schambach said.
Steve Sarracino, Partner at Activant Capital, and newest member of the Board of Directors at NewStore, stated: “The NewStore Mobile Retail Platform makes omnichannel a reality. We see mobile capturing an ever-growing portion of the $24 Trillion worldwide retail market, and NewStore is at the epicenter of that transformation.”