Today, I am pleased to announce Kody (kody.com), a Platform-as-a-Service modernising commerce for larger businesses with physical locations, closed a US$20 million Series A financing earlier this year. The financing round involved new institutional investors and existing shareholders, bringing the total funding raised to US$30 million after launching 2 years ago.
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The company has grown significantly since then, with annualised processing volume approaching US$1 billion across the platform. Kody is also positioned for further expansion as we continue to partner with leading retail and hospitality brands.
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With our fully integrated financial infrastructure and software platform, Kody simplifies business operations by integrating into existing systems to help businesses reduce operating costs, increase net profit margin, and gain instant access to cash flow. Businesses can also utilise our proprietary spending insights and customer tracking data to significantly improve customer retention and enhance their loyalty programs.
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Founded with the vision of modernising in-person commerce, we were able to generate significant value for leading brands in real time. This Series A financing is a testament to our team and validation of our vision as we continue to invest internationally for talent across the UK, continental Europe, Hong Kong, and Singapore while building further strategic partnerships to enhance our product offering.