eGrowcery is pleased to announce the strategic long-term partnership with the Alliance Retail Group (“ARG“) based out of Nashville, Tennessee. With the partnership agreement in-hand, the company intends to complete its capital raise of USD$2.5M.The benefits of the partnership will not only solidify eGrowcery’s #1 market position in the industry, it will also;
- Significantly increase the company’s adoption capabilities and on-boarding rate of new retail customers,
- Broaden its product portfolio offering, and
- Ensure the company is on solid financial footing with a long-term contract and guaranteed revenue streams.
ARG has agreed to guarantee upfront revenues, ensuring eGrowcery is cash flow positive and profitable from the onset. ARG is targeting to sign over 600 retailers over the next 2 years, making eGrowcery the #1 full-service, turn-key eCommerce platform provider to the independent grocery industry in the United States. The Company is seeking to raise US$2.5M at a pre-money valuation of approx. US$9M for Product Development, Sales & Marketing, Administrative Support and to extinguish certain liabilities of the Company. eGrowcery has signed a MOU with a new Partner Company which involves a US$1.25M investment. This new Partner comes with up to 900 new stores over the next couple years.
Grocery e-commerce is a growth industry with significant market insurgency with high consumer demand and low retailer supply. The global grocery industry represents over US$2 trillion in annual sales, with US$650 billion in the United States alone.
eGrowcery offers a turn-key online retail store solution to independent grocery retailers through provision of its Software as a Service (“SaaS”) platform. Offering an online store gives independent grocery retailers the ability to serve both current and potential new customers who wish to shop online and either “click and collect” or have their groceries delivered.
The Company has a fully developed a scalable software platform and is currently operating in the US and Australian markets, and is now ready to roll the platform out on a large scale, targeting deeper expansion into existing markets and broadening into new international markets.
eGrowcery has secured a number of principal channel partnerships with major supermarket wholesalers. These include SUPERVALU (over 4,000 retailers) and Associated Wholesale Grocers (over 3,800 retailers) and continues to expand their wholesaler network and technical partnerships
Key Transaction Information
The Company is seeking to raise US$2.5M at a pre-money valuation of approx. US$9M for Product Development, Sales & Marketing, Administrative Support and to extinguish certain liabilities of the Company