Top 10 Retail management and POS software

Important news about Retail management and POS software

2022. Nigerian retail automation platform Bumpa raises $4M



Bumpa, a startup that is creating the infrastructure to support online commerce and enable African small business owners to launch, oversee and expand their businesses from their mobile devices, has secured a $4 million seed round. Bumpa’s integration with Meta allows its merchants to link Instagram and Facebook accounts to their Bumpa app, receive direct messages from their customers and reply via the Bumpa app. The integration also enables them to share and sell products, send invoices/receipts, track sales, store customer information and request payments on the Bumpa app while it reflects in their customers’ Instagram DMs. Nowadays, small businesses in Nigeria are spoiled with choices, alongside Bumpa, for solutions that can digitize their operations, including bookkeeping, invoicing and inventory management. Some examples include Pastel, Kippa and OZÉ.


2021. Retail analytics company Trax raises $640M



Retail analytics unicorn Trax anticipates that this openness to technological innovation will persist even after the pandemic. The Singapore-based company announced today that it has secured $640 million in Series E funding to enhance its products, which integrate computer vision and cloud-based software to assist physical stores in managing their inventory, merchandising and operations. Its flagship product, Retail Watch, employs a mix of computer vision, machine learning and hardware such as cameras and autonomous robots to collect real-time data on product shelf availability. It provides alerts if stock levels are low, corrects pricing discrepancies and verifies if planograms, or product display schemes for visual merchandising, are adhered to. Retail Watch currently focuses on central shelves, where packaged goods are typically placed, but will extend into categories such as fresh food and produce.

2020. Brightpearl raises $33M to boost its platform for retailers



In a move that might be described as "a rather good idea, really," Brightpearl, the plucky retail-focused platform that seems determined to make sales, stock, and supplier woes a thing of the past, has cheerfully secured a hefty $33 million in Series C funding. The platform, a marvel of interconnected cleverness, handles everything from financial management to CRM, inventory wrangling, and the labyrinthine intricacies of warehousing and logistics. This round was captained by Sage, who, in a fit of galactic wisdom, has teamed up with Brightpearl to whisk retail and e-commerce types into a shimmering cloud of digital efficiency, where their wildest cloud-finance-and-management dreams might just come true.


2020. Small business payments and marketing startup Fivestars raises $52.5M



In a universe not entirely unlike our own, where small businesses often battle the cosmic forces of obscurity and underfunding, a remarkable entity known as Fivestars has emerged, wielding a dazzling $52.5 million in fresh capital. This powerful artifact, otherwise known as the Fivestars platform, doesn’t just process payments; it masterfully weaves a tapestry of intergalactic connections with other point-of-sale systems, launching bespoke marketing messages at customers with the accuracy of a well-aimed towel. The network—spanning a modest 60 million earthlings—enables small businesses to harness the extraordinary powers of cross-promotion, creating a unified front against the oblivion of unrecognized brands. As the recent plague (which earthlings refer to as a pandemic) descended, Fivestars reports “record usage,” with a million fresh shoppers enlisting every month, perhaps as eager to earn loyalty points as they are to explore the boundless wonders of retail therapy.


2020. Cosmose, a platform that analyzes foot traffic in physical stores, gets $15M


In a universe so vast that only something terribly clever could ever hope to make sense of it, there exists a little beacon of insight known as Cosmose. Cosmose, which, against all odds and possibly with a pinch of wizardry, has just raised a modest $15 million Series A, is quite intent on predicting the whims of human beings as they wander through the aisles of brick-and-mortar stores. It does so with three distinct gadgets (or, rather, services): first, there's Cosmose Analytics, which is fantastically good at watching people meander through shops without so much as blinking; next, Cosmose AI, a brainy bit of kit that crafts marketing spells to coax wallets into action; and finally, Cosmose Media, which precisely nudges online ads into the line of sight, as if by a benevolent cosmic accident.


2020. Alkemics picks up €21M for its supplier-retailer collaboration platform



Alkemics, the Paris-based platform that enables brands to collaborate and introduce products with retailers, has secured €21 million in Series C funding. Alkemics partners with some of the largest grocery retailers in France and the U.K.—including E.Leclerc, Intermarché, Casino, Tesco and Ocado—to assist them in digitizing their commercial processes with over 17,000 brands. The platform links retailers to global suppliers, such as Nestlé, as well as small local producers, facilitating the onboarding and launch of new products. Essentially, Alkemics digitizes the various stages of “supplier-retailer interactions,” encompassing product discovery, listings and sales across all channels.


2020. Phos, the UK fintech that offers a software-only POS for smartphones, raises €1.3M



Phos, the U.K.-based fintech that provides a software-only PoS allowing merchants to process payments directly on their phones without needing extra hardware, has secured €1.3 million in funding. This raises Phos’s total funding to €2.5 million and will be utilized to expand the development team. Upcoming enhancements include features like ‘PIN on Phone,’ a Software Development Kit (SDK) and a new integrated loyalty program. Established in 2018, Phos has created software that converts any NFC-enabled Android device into a payment terminal, eliminating the need for additional hardware and lowering the total cost of ownership. The startup claims its solution is swift to deploy and “uniquely” phone and bank agnostic, meaning any bank can serve as the acquirer.


2017. Mobile POS system Square launched Retail app



Square is unveiling a new Square Retail app that enhances a comprehensive backend suite of tools, which includes full coverage of inventory management, customer relationship management and employee resources. The new solution is designed to offer a next-level retail experience for merchants and shop owners who need more than just the Square Reader and the basic Square mobile app. The solution can scale based on the requirements of their clients, accommodating everything from a single-location shop to a merchant with multiple stores and extensive inventory to manage. Currently, the primary focus for Square with this product is retailers in the “finished goods” sector, including those dealing with packaged products or items like shirts and clothing with barcodes, as well as products such as wine or games.


2016. Square now allows to charge loyal customers without card swiping



Mobile payment processing service Square has introduced a new feature called Card on File that enables charging recurring customers without card swiping (or even without requesting the card). It's also convenient for customers, as they can visit your store or restaurant without carrying a card or cash, take what they need and leave. You can then charge the correct amount to their card. However, customers must first opt-in and provide their card details to your company’s Square account. Additionally, with Card on File, businesses can bill remote customers without requiring internet payment. This feature is slightly more costly for businesses: it will incur a fee of 3.5% plus 15 cents, compared to the 2.75% fee for card swiping.


2015. Mobile POS service iZettle expands to small business loans



Mobile payments provider iZettle, which enables smaller merchants to handle card transactions via its mobile card readers, is venturing into small business loans by introducing a capital advance product named iZettle Advance. This new offering will be available to select iZettle clients who require funds to expand their enterprises. The amount available for borrowing will also vary based on the specific business, taking into account factors such as their monthly or annual revenue (a metric iZettle is naturally aware of, due to its role in processing their card payments).