The story behind our Series A
How our Series A transpired is certainly one for the books. Nobody could have ever imagined a year ago that Tapcart would be going for Series A funding in the midst of a global pandemic but that is exactly what happened to Tapcart founders, Eric Netsch and Sina Mobasser.
The initial Series A discussions started back in late 2019. Eric began by taking meetings with a few key individuals in the VC community that had heard about Tapcart and were interested in what we were doing. By February, the discussions had become more intense and more frequent so Eric announced that we were officially ready to raise and mentioned he and Sina would be up in Silicon Valley the week of March 9th to take on select investor conversations.
There were quite a few meetings lined up for the week so Eric and Sina were definitely already mentally preparing for the marathon. What they couldn’t have anticipated was the impending economic crisis and the fact that the world around them was literally falling apart!
But when one door closes, another opens, and investors were seeing the opportunity as it came to ecommerce and mobile. Just as the stay-at-home orders were going into effect around the country, Tapcart received a term sheet from none other than SignalFire, one of San Francisco’s most respected VCs and one of Eric and Sina’s top choices for the Series A round. Eric and Sina knew that this was the partner the company needed to help take Tapcart to the next level.
We recognize that the last few months have not been easy on anyone and much of what we’re seeing these days isn’t the best of news. We’re happy to share some good news for our company and for our merchants and are excited to announce that we have officially closed our Series A round led by SignalFire, with participation from previous investors Greycroft and Amplify. We are grateful for this new round of funding and are forever indebted to our strong community of merchants because, without you, this would not have been possible.
What this means for the Tapcart community
This new funding is going to be used to help you, the merchant, as you navigate this new era of commerce. There is an overwhelming need to adapt to the new normal and the changes in consumer behavior will also necessitate modifications to our product roadmap and resourcing. The new funding will be used to facilitate:
This next chapter
To say the team is humbled is an understatement. We have grown tremendously over the past 3 years and know that this new round of investment will be instrumental in shaping the next chapter of Tapcart’s history. We want to thank you, our community, for your support. You inspire us every day to build the best product possible and to transform the future of mobile commerce!
To read the full press release, click here.
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