Fintech

E-commerce infrastructure startup Shopistry raises $2M seed round

Shopistry, a Canadian-based startup centered around the concept of ‘headless commerce’ and building e-commerce infrastructure, announced raising $2 million in seed funding, according to TechCrunch.

The company says it plans to use the funding to continue developing its products, integrations, services and managed infrastructures, with the hope of turning headless commerce into the dominant architecture over the next five years.

Headless commerce, or modular commerce, is a concept which allows companies to utilize API frameworks to manage their technology stacks. Shopistry works with retailers to manage their e-commerce presences, without the need for large technology teams or complex organization.

The company provides a number of services and systems using the concept, which include: e-commerce administrative tools for Shopify and Square through Shopify Console, managed infrastructure via Shopistry Cloud, a web storefront and mobile app management tool Shopistry Storefront, and a headless customer management system that allows publishing across multiple channels in Shopistry CMS. Shopistry Services also offers brands design and engineering help.

“It’s a modular system, we call it ‘headless without the headaches,’ where you grab the framework to manage APIs. After a company goes live, they can spend 50% of their budget just to keep the lights on. They use marketplaces like Shopify to do the tech, and we are doing the same thing, but providing way more optionality. We are not a monolithic system,” co-founder Haidar told TechCrunch.

The funding included participation from Shoptalk founder Jonathan Weiner, Hatch Lab’s Amar Varma, Garage Capital, Mantella Venture Partners and Raiven Capital. Co-founders Jaafer Haidar and Tariq Zabian founded Shopistry in 2019, and have spent the past two years building its infrastructure before beginning seed fundraising.

Haidar says that the company is growing its customer base and expects to add more flexibility and integrations to Shopistry’s platform in the next year, with a full launch expected in the fourth quarter.

There is also a big component to ‘after the sale,’ and we want to create some amazing experiences and focus on back office operations. We want to be the easiest way to control and manage data while maintaining a storefront,” he told TechCrunch.

In other fintech news, Divvy Homes reached a $2 billion valuation following a $200 equity round led by Tiger Global and Caffeinated Capital. Argentinian financial service startup also raised a $350 million Series D co-led by SoftBank and Tencent.

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