Snapcommerce Raises USD$85M in Funding

Snapcommerce co-founders Henry Shi (L) and Hussein Fazal (R). (Photo: Snapcommerce)
Snapcommerce co-founders Henry Shi (L) and Hussein Fazal (R). (Photo: Snapcommerce)

Snapcommerce, a Toronto, Canada-based message-driven mobile commerce platform that connects price-conscious consumers to the best promotions on mobile, closed an $85M USD growth funding round.

The round, which brought total capital raised to date to over $100M USD, was co-led by Inovia Capital and Lion Capital with participation from Acrew DCF, Thayer Ventures and Full In Partners, and included existing investors Telstra Ventures and Bee Partners.

The company will use the funds to expand into new consumer verticals.

Co-founded by serial entrepreneur Hussein Fazal and former Google engineer Henry Shi, Snapcommerce provides an AI-driven, vertical-agnostic platform which uses messaging to personalize the mobile shopping experience and deliver the best promotional prices. The company’s flagship product, Snaptravel, provides great travel deals over SMS, Messenger, and WhatsApp.

Snapcommerce is projected to cross over $1B USD in total mobile sales in 2021. Over 100 Million messages have been exchanged with over 10 Million customers through the platform to-date.