GrubMarket Strategically Invests in Omnichannel Payment Provider IOT Pay
SAN FRANCISCO, CA - Supply chain relationships face a myriad of challenges when it comes to efficiency. With so many transactions happening each day, it is little surprise that payment can pose its own obstacles. IOT Pay is one provider aiming to streamline the process, and recently gained Series A funding from GrubMarket to do so.
"This investment will allow us to offer our communities new tools and added flexibility to reduce transaction friction and do more business with our customers, producers and logistics partners. We look forward to bringing more value to our stakeholders, our suppliers, and our customers," said Mike Xu, CEO of GrubMarket.
Genevieve Wang, GrubMarket's Chief Software Officer, will join IOT Pay's Board of Directors as part of the transaction, a press release stated.
GrubMarket plans to offer IOT Pay's solution as part of its e-commerce and WholesaleWare software products. Its proprietary WholesaleWare software suite is a Software-as-a-Service platform providing food industry suppliers and vendors with seamless financial management, easy-to-use online ordering and sales, precise inventory management, and engaging CRM tools.
"We are thrilled to join the GrubMarket network and expand our reach to their ecosystem. GrubMarket's technology brings industry-leading tools for the American food supply chain. This partnership allows us to collaborate and offer a more comprehensive suite of products and services to GrubMarket's constituencies," said Leo Chen, CEO of IOT Pay.
Could this solution be the answer to your own supply chain challenges? Be sure to follow along with this partnership as we at ANUK report.