SHANGHAI, CHINA, Appconomy announced that it had raised an additional $6 million in venture financing to complete its Series A round, for a final total of more than $16 million.
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The Jinjin marketplace launched in two of China's most strategic markets, Beijing and Shanghai, the nation's capital and the country's largest city, respectively. Appconomy also announced that it had raised an additional $6 million in venture financing to complete its Series A round, for a final total of more than $16 million, to continue the rapid introduction of the Jinjin marketplace app and its mobile solutions across China's retail industry.
The Jinjin marketplace features dozens of popular Chinese and global retail brands, with hundreds of locations in Beijing and Shanghai. Merchants include popular food & beverage chains Golden Phoenix Bakeries, Burger King, Pepper Lunch, among many others, as well as a variety of high-end health, beauty, and other goods & services merchants. For consumers, the Jinjin marketplace offers a ground-breaking mobile loyalty and rewards program in China. It is available immediately from the Jinjin website (http://www.jinjinapp.com) and popular Chinese Android app stores, e.g., HiAPK, Wandoujia, and Gfan, and will be available within days in iTunes for iOS users.
"We strongly believe that the launch of the Jinjin marketplace represents a unique milestone in the reinvention of the retail and dining experience for Chinese consumers and merchants," said Brian Magierski, President and CEO of Appconomy. "Following our announcement early last month of the Jinjin Retail Solution at the China Retail Industry Convention, which we've begun the process of piloting for large retailers, Appconomy now offers the only comprehensive, mobile solution, serving both big and small box retailers. Through our Jinjin marketplace, commerce platform, and mobile apps, we enable retailers, in both their physical and online stores, with capabilities like smart shopping list management, in-store geo-fencing technology for precise product location, customizable notifications, discounts, rewards, and loyalty programs."
"With the launch of the Jinjin marketplace, we are excited to accelerate our market penetration with multiple Chinese national and global brands, in multiple markets," said Steve Papermaster, Chairman of Appconomy's Board of Directors. "As we prepare for a next major phase of growth and related financing activity, we are pleased with both the strong interest by current investors to complete our Series A by exercising their rights and the new investors that are participating in the Appconomy opportunity to create value by joining in the round."
About Appconomy, Inc.
Appconomy operates a cloud-based platform for mobile marketing and commerce that directly connects consumers and merchants through its JinjinTM marketplace and apps for smartphones, tablets, and feature phones. Appconomy has received more than $17.5 million USD in venture financing from investors that include Qiming Ventures, True Ventures, and Neusoft Corporation. Additionally, Neusoft is a comprehensive and primary strategic partner for Appconomy in China. For more information, visit http://www.appconomy.com.