This move by Ultra Commerce follows on the heels of an acquisition completed in mid-2023 of Pru Cart group, a North American based eCommerce platform (Pinnacle Cart), and Digital Marketing services business. These transactions are part of Ultra Commerce’s strategy of building a market leading portfolio of eCommerce software solutions, focused on the high growth B2B eCommerce market segment, helping to empower customers to grow through digital channels.

Ultra Commerce is helping empower businesses to fast-track their digital transformation with a sharp focus on addressing the complex eCommerce requirements that B2B businesses have, including handling complex product catalogs, diverse order fulfillment and inventory management, along with innovative eCommerce business models like marketplaces.

Commenting on the acquisition, CEO of Ultra Commerce, Matthew Hyland, stated, “B2B eCommerce today is a rapidly evolving and high growth market with business needs becoming more complex, and new business models being created to capture revenue opportunities. Our clients are looking for comprehensive solutions that not only meet their immediate requirements, but also that can provide a roadmap for new growth channels. Marketplaces and multi-vendor commerce offers organisations new revenue and growth channels through a myriad of implementation strategies – and Omnyfy, with its breadth of clients across different industries is a proven technology that enables marketplace commerce and drives this growth.“

The B2B eCommerce segment is undergoing a remarkable surge, while simultaneously, there is a notable upswing in multi-vendor marketplace commerce and drop shipping, with Gartner predicting that over 75% of B2B procurement spending will occur through online marketplaces by 2023 and by 2026, 80% of B2B sales interactions between buyer and seller will occur in digital channels, an increase from 30% today. These compelling market trends underscored the strategic move by Ultra Commerce to acquire Omnyfy, as organizations increasingly invest in both B2B commerce transformation and marketplace enablement.

Established in 2017, Omnyfy has grown to become one of the leading marketplace software providers globally and is recognised by Gartner as a representative vendor of multi-vendor commerce solutions for enterprise clients. Omnyfy provides organisations with a scalable marketplace platform solution that enables them to create multi-vendor commerce solutions that extend their existing business models or launch green-field projects to capitalise on previously untapped revenue channels. This ability, to drive multi-vendor commerce, is a key growth factor in eCommerce today. Analyst firms including Gartner and Forrester concur that B2C, B2B and B2B2X marketplaces are a key driver of commerce growth and over a third of high GMV businesses will be adopting some form of multi-vendor commerce to drive sales, boost loyalty, extend range and capture increasing share of their client wallet.

Omnyfy’s marketplace technology is used by organisations ranging from small businesses to Fortune 500 companies. The company’s technology is used by clients globally in industry verticals ranging from Retail, to Healthcare, Wholesale B2B, Services, Software, Fashion, Homewares, Heavy Industries and Shopping Centres. Omnyfy is one of the only marketplace technologies globally to offer built in support for complex B2B commerce such as Project Quotation, Milestone based billing, Integrated invoicing management, Approvals workflows and more, delivering a feature-packed offering for organisations looking to implement complex B2B, B2B2X, Consumer or Service marketplaces.

The synergies created by the two organisations are significant.

Synergy of Expertise: Ultra Commerce brings extensive experience as a global enterprise B2B Software platform. By integrating Omnyfy’s cutting-edge multi-vendor marketplace capabilities, Ultra Commerce is poised to redefine the standards of B2B digital transformation.

Market Demand: With the B2B commerce landscape evolving rapidly, there is an increasing demand for solutions that go beyond conventional eCommerce. The acquisition positions Ultra Commerce as a strategic partner for businesses looking to not only adapt but thrive in the digital marketplace.

Vision for the Future: Ultra Commerce’s forward-looking approach recognizes the transformative potential of B2B commerce and the growth drivers that multi-vendor commerce offers. The acquisition of Omnyfy reinforces this commitment, reflecting the company’s dedication to providing innovative solutions that anticipate market expectations.

“We are excited about the possibilities that this collaboration brings, as we continue to empower businesses with the tools they need to thrive in the dynamic world of eCommerce.”, said Mr. Hyland.

Fabian Rebeiro, CEO of Omnyfy joins Ultra Commerce as Chief Commercial Officer, looking after the organisation’s product suite and driving commercial activities. “Enterprise Marketplaces are one of the fastest growing digital commerce trends globally, for high GMV organisations and Omnyfy’s marketplace product offers one of the most feature-rich marketplace enablement solutions on the market today – especially for B2B marketplace enablement. This acquisition of Omnyfy demonstrates the market opportunity that multi-vendor commerce brings to B2B transformation projects, and we’re very excited to join a forward-looking technology company like Ultra Commerce, to turbo charge the development of Omnyfy and our new product lines which will truly change how companies approach marketplace technology and how it’s leveraged as a fully integrated part of a commerce stack“, stated Mr. Rebeiro.

About Ultra Commerce

Ultra Commerce is a fully integrated Headless eCommerce platform business focused on enterprise B2B commerce enablement. HQ in Sydney Australia with operations in 5 countries, and a customer base of over 350 organisations.

About Omnyfy

Omnyfy is a PaaS, multi-vendor marketplace platform for B2C, B2B, Service and Procurement marketplaces. Based in Australia, Omnyfy empowers marketplace platforms globally across 13 countries and 15 industry verticals.

With over $1.2Tn worth of B2B business moving online, and a growing proportion of this trade being done on marketplaces, B2B marketplaces offer a significant growth opportunity for organisations looking to shift from traditional supplier or distributor models to a multi-vendor direct to customer business model.

Omnyfy CEO, Fabian Rebeiro, sits down with Paul Skeldon from RetailX to discuss B2B marketplace in this webinar, which has been broken down into 4 easy to view parts, each discussing a specific topic.

Part 4 – Key features required for B2B marketplaces

In this section of the webinar Paul and Fabian discuss the key features required by operators of B2B marketplaces.

Other Parts

• Part 1 – B2B Marketplace Growth and Usage
• Part 2 – What’s driving the shift to B2B marketplace buying and how are customers buying?
• Part 3 – What are B2B customers buying?
• Part 4 – Key Features required in B2B marketplaces

With over $1.2Tn worth of B2B business moving online, and a growing proportion of this trade being done on marketplaces, B2B marketplaces offer a significant growth opportunity for organisations looking to shift from traditional supplier or distributor models to a multi-vendor direct to customer business model.

Omnyfy CEO, Fabian Rebeiro, sits down with Paul Skeldon from RetailX to discuss B2B marketplace in this webinar, which has been broken down into 4 easy to view parts, each discussing a specific topic.

Part 3 – What are B2B customers buying?

In this section of the webinar Paul and Fabian discuss what customers are purchasing on B2B buyers. This includes services, product and procurement for businesses.

Other Parts

• Part 1 – B2B Marketplace Growth and Usage
• Part 2 – What’s driving the shift to B2B marketplace buying and how are customers buying?
• Part 3 – What are B2B customers buying?
• Part 4 – Key Features required in B2B marketplaces

With over $1.2Tn worth of B2B business moving online, and a growing proportion of this trade being done on marketplaces, B2B marketplaces offer a significant growth opportunity for organisations looking to shift from traditional supplier or distributor models to a multi-vendor direct to customer business model.

Omnyfy CEO, Fabian Rebeiro, sits down with Paul Skeldon from RetailX to discuss B2B marketplace in this webinar, which has been broken down into 4 easy to view parts, each discussing a specific topic.

Part 2 – What’s driving the shift to B2B marketplace buying and how are customers buying?

In this section of the webinar Paul and Fabian discuss the different products and services that B2B customers purchase via marketplaces.

Other Parts

• Part 1 – B2B Marketplace Growth and Usage
• Part 2 – What’s driving the shift to B2B marketplace buying and how are customers buying?
• Part 3 – What are B2B customers buying?
• Part 4 – Key Features required in B2B marketplaces

With over $1.2Tn worth of B2B business moving online, and a growing proportion of this trade being done on marketplaces, B2B marketplaces offer a significant growth opportunity for organisations looking to shift from traditional supplier or distributor models to a multi-vendor direct to customer business model.

Omnyfy CEO, Fabian Rebeiro, sits down with Paul Skeldon from RetailX to discuss B2B marketplace in this webinar, which has been broken down into 4 easy to view parts, each discussing a specific topic.

Part 1 – B2B marketplace Scale and Growth

In this section of the webinar Paul and Fabian discuss the rapid growth of B2B marketplaces globally.

Other Parts

• Part 1 – B2B Marketplace Growth and Usage
• Part 2 – What’s driving the shift to B2B marketplace buying and how are customers buying?
• Part 3 – What are B2B customers buying?
• Part 4 – Key Features required in B2B marketplaces

Internet Retailing identifies third-party sales through marketplaces will be the largest and fastest-growing retail channel globally, adding more than $1.3trn in sales by 2027 and accounting for 38% of all global retail sales growth. First-party ecommerce sales will shrink from 44% today to 41% in 2027, adding $778bn in sales over the next five years. By then, third-party sellers through marketplaces will capture 59% of global ecommerce sales, up from 56% in 2022. (Source: https://internetretailing.net/marketplaces/third-party-marketplace-sales-to-account-for-59-of-all-global-ecommerce-by-2027/)

Now although these stats refer to “marketplaces” – with the right technology platform, any Online Retailer with an eCommerce store can incorporate Third-Party Sellers into their existing online catalogues to take advantage of the benefits that this form of online retail offers.

What is Third-Party Selling?

Third Party Selling is a business model where an Online Retailer enables third-party sellers – i.e. brands whom they do not carry or stock themselves, to list their products and services alongside their own, offering customers a much larger catalog of products from which to purchase, or affiliated services such as installation, delivery, insurance, complimentary products etc.

Fulfilment of Third-Party items may be through drop-shipping or cross-docking:

• Drop Shipping is a fulfilment process wherein the Vendor or Seller of the item ships directly to the customer. In the case of Drop-Shipping, the customer may receive multiple packages if purchasing from more than one Seller.
• Cross-Docking is a fulfilment concept wherein the Vendor or Seller of the item ships to your warehouse and the items are immediately combined for delivery with first-party items that the customer purchases from your catalog for consolidated shipment to the end-customer.

Benefits of Third-Party Selling to Online Retailers

As an Online Retailer, Third-Party Selling offers you the following benefits

1) Expand your Catalog and offer customers a much wider product range

Product range is a significant driver of GMV – the more you have to sell, the higher the potential value of your GMV. Especially when your first party catalog has obvious gaps.

2) Expand range, without increasing warehousing and holding costs

With Third-Party Selling, you as the online retailer, do not purchase or hold the stock. The stock is shipped directly to the customer or consolidated via your 3PL partners, or cross-docked prior to dispatch. This significantly lowers holding costs, thereby increasing your margin on these products.

3) Increase revenue through commissions or negotiates wholesale rates, depending on your preference and product range

Third-Party Selling offers several monetisation opportunities, discussed below. All of which deliver significantly better net-margin as compared for 1st party items, primarily because of the significantly lower holding costs. If priced correctly, commissions, rebates or margin from third-party products can offer significantly higher benefits.

4) Addressing range gaps and non-core products

Depending on the type of Online Retailer, addressing range gaps could either mean developing new product offerings, supplier engagements with new brands and distributors or development of own-brands. In many cases, these gaps could simply mean lost revenue potential as consumers look for products that aren’t being carried. The same can be said for stocking of non-core products – such as fittings, installation goods, assembly equipment, maintenance and repair items and operational commodities – customers would still need to purchase these items during the operational life of the product, but in most cases online retailers wouldn’t stock these items because the holding costs wouldn’t be worth it.

Third-Party selling offers a great strategic option to address range gaps, by simply identifying sellers who can list those products, without having to carry the associated stock or sink capital into inventory, coupled with marketing expenditure to drive sales and move stock.

The added benefit is that depending on the sales of these items, online retailers can then shift these products using trusted sales data, to first-party stock, or more efficiently. negotiate better rebate opportunities for sales targets on a monthly or annual basis.

5) Complimentary Products and Services

For online retailers of consumer electronic goods, furniture, outdoor goods, home installations, business furniture or electrical goods, industrial equipment, electricals, floor and wall coverings etc, their products would usually entail associated services including installation, insurance, accessories and fittings, measure and quote or the purchase of additional fittings.

By enabling Third-Party sellers of these products or services to be listed and purchasable alongside the main catalog items, retailers can offer their customers a more integrated and seamless buying experience, while also developing an ecosystem of products and service providers.

Monetising Third-Party Selling

Third-Party selling can be monetised several ways:

1. Commission-based model: The most common method is the commission model, where the platform charges sellers a commission on the Gross-Value of the sales. It is recommended that any shipping fee NOT be included in the commission fee, as this may negatively impact your ability to secure Vendors on the marketplace. Commission itself can be split into several types including:
   1. Seller Commission – Based on the sales value of the order
   2. Category Commission – Based on the product category
2. Wholesale model: In the wholesale monetisation model, the retailer effectively negotiates a price per product that is being listed (List or Cost Price). This price is stored on the platform along with the retail or sale price. When the item is sold, the Vendor or Seller receives the agreed List Price x Quantity purchased. This model is great for online retailers with significant customer base in a specific niche category, where they prefer to offer pricing discounts and promotion offers without impacting the value agreed with the Vendor.
3. Rebates: Rebates are another “add-on” monetisation model, alongside Commission or Wholesale Model. Rebates are extremely powerful and offer significant price competitiveness to the online retailer. A Rebate is effectively a percentage of total sales value generated for the specific Seller, paid-back to the Online Retailer at the end of a specific period, whether it is monthly or annually. Usually combined with marketing budgets, promotions and other channel incentives. When setting a rebate, Sellers would look to establish an agreed sales quota for that period, and the rebate is based on that quota (e.g. 5% rebate for total sales over $2m for the year, and 3% if less than $1.5m). Rebates should be flexible as they have a high degree of correlation with the product type and Seller.
4. Subscription-based model: Third-party sellers pay a monthly or annual fee to be able to list their products on the marketplace. Subscription models are a good “add-on” monetisation model for most online retail platforms, but tend to be the main monetisation option for Service Platforms.
5. Advertising-based model: Third-party sellers pay to have their products highlighted or promoted in certain areas of the marketplace, or to have their products appear at the top of search results.
6. Value-added services: The online retailer charges additional fees for value-added services such as order fulfilment, customer service, and shipping.
7. Transactional fees: Third-party sellers are charged a small transaction fee for each sale made through the marketplace.

Getting Started with Third-Party Selling

So what do you need to get started with Third-Party Selling? We’ve compiled an exhaustive list of the most crucial platform aspects required to turn your existing eCommerce store into a third-party sales rocket ship!

The Business Model

Ensure that you have clearly articulated the goals and business model of your Third-Party Sales Strategy – this includes:

• Target vendors within the first 3,6, 12 and 24 months
• Target Third-Party Catalog – specifically the categories of Sellers that you’re looking to onboard and the product ranges
• Establishing a clear product category taxonomy to ensure that your Seller Acquisition team knows precisely the product range that you’re looking to establish via Third-Party Sellers while also making it easy for your Sellers to integrate existing stores and map data between their systems and yours.
• Establishing a clear fulfilment strategy – offering Sellers the option of Drop-Ship or Cross-Dock depending on your business’s capabilities and the shipping efficiency and associated costs.
• Determine your shipping cost strategy for Third-Party items, will you be passing on the shipment of items to your customers for third-party items, absorbing the costs, consolidating shipments etc?
• Monetisation strategy
• Payout / Disbursement process and timeframe, as this is one of the most commonly asked questions by Third-Party Sellers – When and how will I get paid?
• Returns and RMA process for Third-Party items
• Invoicing, Tax-Withholding (if applicable) and Cross-Border disbursements

Selecting the right platform to drive your Third-Party Sales Solution

• Choose a platform that provides a comprehensive API suite or connector for your existing eCommerce store. At the minimum you will need to ensure that the following is supported:
  • Product Catalog sync
  • Pricing and Inventory sycn
  • Order sync
  • Fulfilment / Shipment sync
  • Vendor / Seller communications (if you would like your buyers to have the ability to communicate directly with sellers)
  • Promotions sync

• Seamless vendor onboarding with the ability to customise vendor onboarding forms to enable your platform to connect the data and information required to review and approve the seller to your eCommerce store
• An approvals process to review and Approve / Reject potential sellers
• A seamless online payout process whereby your Sellers can be onboarded for payout of their orders
• A platform that supports a wide range of monetisation options (as listed above) to provide you with the flexibility to create a monetisation plan that suits your business
• A robust, automated and accurate solution for calculation of payouts based on the range of monetisation options selected
• Comprehensive Vendor Dashboard and Seller Portal to allow your vendors to manage their profiles, catalogs, orders and shipments and to receive notifications of orders via the platform
• Robust connectivity options for your sellers to connect their existing eCommerce stores, PIM systems, ERP’s or product feeds
• Connectors to allow your Vendors to receive order fulfilment information directly from your eCommerce store, without having to login to manage their orders on your platform. The majority of Vendors already have several sales channels that they’re managing and they’re not interested in having to login to any more channels to manage orders. They expect centralised order sync and management from their existing eCommerce systems.
• Connectivity to retrieve shipment and tracking information directly from your Sellers, to update the order information on your platform with ease, so that customers can track their third-party orders
• Automated invoicing management taking into consideration partial fulfilment, order cancellations, refunds and other edge cases – ensuring that your customers are properly compensated while managing Seller payouts seamlessly.
• Seller assessment is vital for success, so ensure that the platform you select has processes to monitor seller performance including reporting for:
  • Time to fulfil – ensuring that Sellers ship their items within a certain timeframe of receiving the order
  • Vendor Review and Ratings
  • RMA processes with the ability for customers to leave detailed product reviews and reasons for returns etc
• Comprehensive customisable reporting built in – to give you the data you need to operate your Third-Party sellers.

What to be aware of when establishing a Third-Party Seller Strategy

When executed correctly , Third-Party Seller Strategy can deliver significant value to Online Retailers. The following points highlight the potential risks and things to be aware of when planning to execute this strategy.

• Quality of Quantity at launch: Assess your potential Sellers carefully, especially in the first two years of operation. Poor customer experiences with Third-Party sellers can affect confidence and review quality of your first-party items as well, especially when cross-docking, as delays in Third-Party fulfilment may affect when customers receive their overall packages.
• Establish SLA’s for fulfilment with Sellers and ensure that this is part of your onboarding contracts
• Track and monitor Seller Performance and Ratings / Reviews from customers to weed out low-performing Sellers
• Do not support back-orders, especially for consumer marketplaces and ensure that your Sellers are ideally providing near-real-time inventory as it is essential that customers receive the items they purchase rather than being notified of it being out-of-stock after they place their orders. This leads to dissatisfaction and loss of trust in the store.
• Be realistic and set expectations with your Sellers: Many Online Retailers who initially go down the path of Third-Party Selling over-estimate the value of their revenue potential and over-promise sales to their Sellers. Sales and industry data are good indicators, but temper and be conservative with expectations and build slowly.
• Establish a monetisation strategy that makes it easy for new Sellers to say “Yes”: From a Vendor / Seller acquisition standpoint, new Third-Party Channel platforms are usually risky for Sellers – they have to put in the effort to sell, manage their catalogs etc, so make it as easy as possible for them to say yes – do not charge a fixed / subscription fee for them to join your platform especially as it is unproved if it is a cold-start. Offer realistic commission agreements and focus more on rebates, if you are confident of driving sales, as this is the monetisation method offers the best cost/benefit mix for new Sellers.

Marketplaces are platforms with large volumes of transactions between buyers and sellers for goods and services. It is critical that the financial component of these transactions is effectively managed and allows customers to scale quickly. Millions of companies—from the world’s largest enterprises to the most ambitious startups—use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. With Stripe Connect, Omnyfy offers businesses a holistic solution for running and operating a multi-vendor marketplace.

Customers will benefit from the robust and scalable global solutions that Omnyfy and Stripe offer to grow exponentially. We will constantly innovate and work with global partners like Stripe to provide the new commerce with next generation solutions.

Frictionless commerce

In a world where B2C and B2B commerce and multi-vendor marketplaces are quickly expanding, businesses are beginning to look outside of the traditional lines of operation in a fight to defend their market position. This growth, and the willingness to venture into commerce and multi-vendor marketplaces, is largely attributed to the frictionless experience of Stripe solutions.

We have all experienced the frustrations when attempting to complete a purchase, consequently resulting in abandoned carts. Stripe puts the user at the forefront of the technology and paths a way to purchase. Users are presented with an uncomplicated, intuitive, and concise checkout page featuring Stripe’s payment integration. By utilising Stripe’s frictionless payment experience, customers’ security fears are alleviated, the checkout process is expedited on site, and the stress and extra steps at payment are relieved.

Customers are constantly expecting a fully frictionless payment experience, and to remain competitive, business owners must meet these demands. Stripe’s frictionless payment experience is provided entirely out-of-the-box, meeting the needs of businesses. In the interest of business owners, they see a reduction in cart abandonment rates, an increase in payment efficiency, and an overall increase in customer satisfaction and loyalty.

It is easy to see why Omnyfy has positioned Stripe as the leading payment integrations on our clients’ marketplaces, and we are extremely proud to be identified as one of Stripe’s launch partners for the partner ecosystem program.

How Stripe helps to accelerate launching a marketplace

Omnyfy has seamlessly integrated a range of Stripe products that fast track the development of a marketplace. We have made the pay in and pay out process a breeze with the help of Stripe Connect which allowed us to build an advanced commercial management tool for the marketplace administrators. The fully automated solution provides accurate accounting and visibility of their earnings for the marketplace owner and vendors. The release of funds from the marketplace to the vendors is as easy as a single click.

Onboarding new vendors is critical for the life of a marketplace and mainly in its infancy. The integrated KYC (Know Your Customer) process included with Stripe Connect is accelerating this onboarding but also removing the hurdle for marketplaces to go through an extensive process. They can then focus on other tasks while all vendors that register, and are approved, to participate on the marketplace can complete the KYC process in a few simple steps directly from the marketplace backend.

Start local, go global

Stripe supports Omnyfy’s customers in many ways and this is proven by the range of payment options available at checkout. Businesses can reach more customers worldwide with a unified, global platform and support for over 135 currencies and local payment methods through a single integration. From traditional payments methods to Buy Now Pay Later and popular digital wallets, the range of options is constantly evolving. The integration of Stripe within our marketplace platform is not only enabling our customers to get access to future technology but also to target new markets to expand beyond their borders and access the world.

Powering B2B Commerce

As part of the Advanced B2B Features Suite released with the new Omnyfy V4 platform, we have introduced a new capability to manage payment terms and credit limits on the marketplace designed for Business to Business transactions. Leveraging Stripe technology, we have powered this new feature with Stripe Direct Debit to allow payment terms. The terms are defined on a one-to-one relationship between buyers and vendors. The organisational structure enables you to have different payment terms for different departments. The marketplace platform will manage seamlessly all payments to occur through the different terms that are setup. This is an extremely powerful feature for all B2B and procurement marketplaces.

Built with support for Adobe Commerce V2.4.3 and above and also providing support for Adobe Commerce Enterprise version, Omnyfy V4 is the new foundation from which we will continue to build and extend, with capabilities unique to V4 only.

Omnyfy will continue to support clients on V2 and will begin our migration of all V2 marketplaces to V4 in early 2022, we will be communicating with each of our existing marketplace clients about the migration schedule in early 2022.

These are just a small sample of the enhancements that we have delivered in V4. Omnyfy has also addressed a ton of minor bugs and issues that we felt were impeding the quality of our marketplace product to create the most stable version of Omnyfy ever.

Omnyfy is making a global push after successfully closing a Series A round of funding. Having a strong market position in Australia, the company is aiming to focus on building its presence in the US, South-East Asia and Europe.

Omnyfy’s technology allows businesses and enterprises to create a multi-vendor e-commerce marketplace, similar to Ebay, Amazon or Etsy. For shopping centres and retail precincts this means they can now create an identical digital twin of their shopping mall, where all products and services in physical stores are available for purchase online through the marketplace. Retailers and startups, on the other hand, can use the technology to launch a multi-vendor e-commerce marketplace and leverage a drop-shipping model to rapidly scale their businesses.

“Marketplaces continue to be one of the fastest growing sectors of e-commerce – online retailers have realised how profitable this model is. The physical retail, on the contrary, hasn’t yet grabbed on to the opportunity presented by multi-vendor commerce”, said Fabian Rebeiro, CEO of Omnyfy.  

Established in 2017, Omnyfy has seen rapid growth and now boasts clients in 10 countries and a global partner network in 16 countries. Its client base includes major Australian businesses like Australia Post, Melbourne Airport, South Melbourne Markets, Mirvac; global organisations such as Changi Airport, Danaher Group and a large and expanding mix of marketplace upstarts. 

With a wide range of applications for its marketplace technology, Omnyfy is seeking to capitalise on the opportunities within the retail sector as the industry seeks to re-open and find new ways to address dropping sales, visitor numbers due to COVID restrictions and the convenience of online shopping. “For two decades now, shopping centres have been under significant pressure from increasing levels of online commerce – we provide retail asset owners a way to recapture these lost consumers and, at the same time, participate in the value that marketplaces create from data and analytics through to significant retail sales”, said Mr. Rebeiro. 

Omnyfy’s Series A round of $3.3m included investments from long-term backers Sturt Capital Partners, Taronga Ventures and private investors.  

Taronga Venture’s RealTech Ventures Fund, is an institutional venture fund investing into globally scalable entities that will enhance or challenge the way real estate is designed, procured, financed, developed and managed across all sectors. 

Mr. Jonathan Hamman – “We identified Omnyfy as a business with the right mix of technology, experience and capabilities to deliver a truly innovative solution to retail precincts that desperately need a technology to help them innovate.” 

Mr. Rebeiro added, “Having Taronga Ventures back Omnyfy, and being part of the RealTechX program has definitely been a boost for Omnyfy, and a confirmation of our vision, and has put us in front of some of the world’s largest asset owners, giving us the opportunity to grow the business globally.” 

With over 50 clients using the platform today, 35% of which are international, Omnyfy has established itself as a serious player in the e-commerce marketplace platform globally, being featured by Gartner in multiple marketplace technology provider reports. Mr. Rebeiro added, “I’m proud of what we’ve achieved in just a few years, to not only have our technology being used by major organisations in Australia and globally, but also to be consistently competing with companies far bigger than us in marketplace deals”. 

About Omnyfy

Omnyfy is a PaaS Multi-Vendor Marketplace Platform that enables marketplace owners and operators to rapidly create, launch and manage large scale, global marketplaces. Established in Australia in 2017, Omnyfy has quickly grown to be a reputable brand name globally, for multi-vendor marketplace platforms, with solid technology review ratings and recognition from Gartner as a key provider of turnkey and headless marketplace platform solutions. The platform is trusted by global businesses, including successful startups and large enterprises.

About Taronga Ventures, the RealTech Ventures Fund and RealTechX

Taronga Ventures, through its RealTech Ventures Fund, is a technology and innovation investor focused on innovation for the built environment. The Fund is an institutional venture fund that invests in globally scalable entities that will enhance or challenge the way real estate is designed, procured, financed, developed and managed across all sectors. The Fund is focused on developing a diverse portfolio covering sustainability, design, materials and software and provides capital, mentorship and global networks for those companies in which it invests, as well as first mover advantage for the leading global real estate institutions that are the investors in the Fund. Taronga Ventures has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East and Europe. RealTechX is Asia’s first government supported, industry-focused independent scale-up program for companies impacting real estate and the wider built world.

About Sturt Capital 

Sturt Capital Partners is a privately-held advisory, asset finance and investment business. It specialises in providing quality outcomes for its clients, across a range of disciplines including – asset finance, advisory and investment: sourcing, arranging and management of niche investment products for private and small institutional investors. Sturt Capital and its partners will generally co-invest in such opportunities, alongside its clients.