Australian marketplace platform Omnyfy has successfully closed a $3.3 million Series A round of funding, which it aims to use on building its presence in the US, Southeast Asia and Europe.
Omnyfy technology enables businesses and enterprises to create a multi-vendor ecommerce marketplace similar to eBay, Amazon or Etsy. This allows shopping centres and retail precincts to create an identical digital twin of their shopping mall and make products and services available for purchase online through the marketplace.
For retailers and start-ups, they can use the technology to launch a multi-vendor ecommerce and marketplace and leverage drop-shipping model to rapidly scale their business.
Marketplaces continue to be one of the fastest growing sectors of ecommerce and online retailers have realised how profitable this model is, according to Omnyfy CEO, Fabian Rebeiro.
“The physical retail, on the contrary, hasn’t yet grabbed on to the opportunity presented by multi-vendor commerce,” he said.
Established in 2017, Omnyfy has a global partner network in 16 countries and a range of clients in 10 countries including major Australian businesses like Australia Post, Melbourne Airport, South Melbourne Markets and Mirvac, as well as global organisaitons such as Changi Airport and Danaher Group.
With a wide range of applications for its marketplace technology, Omnyfy is seeking to capitalise on the opportunities within the retail sector as the industry seeks new ways to address dropping sales, visitor numbers and the convenience of online shopping.
“For two decades now, shopping centres have been under significant pressure from increasing levels of online commerce – we provide retail asset owners a way to recapture these lost consumers and, at the same time, participate in the value that marketplaces create from data and analytics through to significant retail sales,” Rebeiro added.
Omnyfy’s Series A round included investments from long-term backers Sturt Capital Partners, Taronga Ventures and private investors.