e-plicity.com, a leading mobile-commerce application developer, announced it has secured a $1 million minority equity investment from ACF Equity Atlantic Inc. in partnership with InNOVAcorp.
e-plicity.com, a leader in mobile commerce, develops business-to-business applications that enable businesses to complete financial transactions, improve dispatch capability and manage client information in a wireless environment.
“This investment enables us to continue to work towards a national commercial launch of our first product BuyLink later this quarter,” said Malcolm Fraser, President & CEO e-plicity.com. “What is also significant for e- plicity.com is that our first venture capital investment has been made by an Atlantic Canadian company which further attests the rapid growth of the Atlantic Canadian IT industry,” said Fraser.
Currently e-plicity.com is in the final testing phase for BuyLink, their first wireless application product that processes secure credit card transactions using any web-enabled device such as a cellular phone or personal digital assistant.
“e-plicity.com’s leadership in advanced wireless application development made the company a natural choice for ACF to invest,” said Dave Wilson, Vice President, ACF Equity Atlantic Inc. “With the delivery of a robust enterprise level product, e-plicity.com is poised to be a global leader in wireless e- commerce.”
e-plicity.com currently employs 16 professional IT staff. As the company prepares for the commercial launch of BuyLink later this quarter, they plan to expand to over 40 full-time professionals.
e-plicity.com () is a leading software development company, focusing on the use of wireless technologies as a means of delivering high-value business applications to a mobile environment. Its products provide the enabling technology that allows merchants to check inventory, create orders, and accept payments securely, using data-enabled cellular phones, or wireless Personal Digital Assistants. Recognized by the Branham Group as one of Canada’s Top 25 up and coming software companies (National Post Business, March 2000), e-plicity.com is poised to become a global leader in the wireless data industry.
About ACF Equity Atlantic Inc.
ACF () is a $30 million, Atlantic Canadian venture capital fund focused on helping entrepreneurs accelerate the growth of their businesses and build shareholder value through equity investment.
InNOVAcorp () is a network of critical business resources for developing technology entrepreneurs. Its core services include investment, business incubation and mentoring.Details