Tapcart Blog: Tapcart Raises $10 Million in Series A Funding, Led by SignalFire

Tapcart Raises $10 Million in Series A Funding, Led by SignalFire

We thank each and every one of our merchants for helping us get to this point. YOU inspire us every day!

Alex Rosas

Alex Rosas

Marketing



05/19/2020

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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:

More features:
We are in the process of completely revamping our roadmap for the next two years and this funding will allow us to deploy better features, faster! We’ll keep you in the loop as we have more updates available.

More resources:
Growing our team will not only enable us to launch more features, faster, it also means that we’ll be upgrading all of the services and support that help to drive your platform experience. You can expect more resources to help you grow your business and we’ll be able to offer more support from our team when you need it most.

More value:
One of our guiding principles is to provide real value to our customers and that mission will only continue with this funding. More integrations, more user engagement strategies, and more ways to grow your bottom line will be a key outcome of this new round.

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.

Interested in learning more about Tapcart? Click here to speak with one of our mobile experts.

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