GrubMarket expands into Canada with Funtech Software acquisition
by CM Staff
Vancouver-based Funtech designs, develops and supports eCommerce storefronts across multiple platforms.
In a deal that marks its first acquisition in Canada, San Francisco-based food technology company GrubMarket has bought Funtech Software, a provider of eCommerce systems and online grocery software solutions headquartered in Vancouver.
The financial terms of the deal have not been disclosed.
Founded in 2017 by Sam Qi, Funtech designs, develops and supports eCommerce storefronts across platforms that include desktop and mobile websites, as well as mobile applications. Its customer base includes physical grocery stores and supermarkets in Vancouver and Eastern Canada, as well as online grocery companies in Canada and U.S.
Funtech’s B2C eCommerce and online grocery software will now be available as part of GrubMarket’s software product line, GrubMarket officials said in an Oct. 21 news release, which already includes the innovative proprietary WholesaleWare software suite, the company’s software-as-a-service platform.
After the acquisition, the Funtech will continue to be managed by its current leadership team.
“This acquisition marks the start of our expansion into Canada,” said GrubMarket CEO Mike Xu. “It also enables [us] to build an elite software engineering R&D center in Vancouver, leveraging the deep software engineering talent pool available there.”
