Posted on May 4, 2018 by staff

App commerce company closes £9.5m funding


App commerce company Poq has closed a £9.5m Series B funding round led by Smedvig Capital.

The company, which has offices in London and New York, provides a platform for retailers to build customised native apps.

Poq plans to expand in the UK and Europe and the US where it is planning to open new offices.

The company’s clients include Missguided, House of Fraser, and Holland & Barret.

The completion of its Series B round also sees Poq bolster its senior leadership team, with its first appointment being former Just Giving chairman Jonathan McKay, who joins as chairman.

“We’re incredibly excited to bring on board Smedvig Capital, with its large experience in enterprise SaaS, and are grateful to receive continued support from our long-term investors Beringea and Revolt Ventures,” said Oyvind Henriksen, CEO and co-founder of Poq.

“This will help us grow in the US market, and has also allowed us to welcome Jonathan to the team as chairman.

“Jonathan’s wealth of experience in scaling up technology businesses has already proved to be invaluable to us, and we’re confident that his leadership and experience will dramatically accelerate our growth.”

Jonathan Lerner, Managing Director at Smedvig Capital, said: “We have been following Poq for a long time, and have watched its blue-chip client list and top-quality team grow at a fantastic pace.

“We are very excited to join Oyvind, Michael, and the rest of the Poq team as they continue building the clear category leader in the fast-growing app commerce space. ”

Jonathan McKay, Chairman at Poq, added: “The energy and pace of growth at Poq made it an intriguing company for me to join.

“App commerce truly is the future, and the huge interest from the US market represents a fantastic opportunity to help Poq scale its operations even more rapidly.

“I’m thrilled to be bringing my experience to this exciting phase in the company’s journey.”