Shopify has announced that it raised $100 million as part of a Series C funding round, TechCrunch reported on December 11.
The move is intended to help the eCommerce company branch into additional channels of commerce, including offline.
"In terms of why we’re raising, we’ve talked about what we see as the future of retail,” Harley Finkelstein, Shopify’s chief product officer, told TechCrunch in an interview. “There’s kind of this concept that the future of retail is online vs. offline, or just online. We don’t actually believe that; what we believe is that the future of retail is all about consumer choice.”
OMERS Venture and Insight Venture Partners participated in the round. The company has raised over $120 million since it was founded in 2006.
Shopify recently integrated BitPay, a merchant service for virtual currencies, into its checkout process. Learn more about this development by clicking here.
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