GrubMarket Expands to Canada with Acquisition of Funtech Software; Mike Xu and Sam Qi Comment

Mon. October 25th, 2021 - by Chandler James

SAN FRANCISCO, CA - Whether you’re focusing solely on online retail or operating both e-commerce and brick-and-mortar businesses, being armed with the proper capabilities and partnerships is essential. Funtech Software, which was recently acquired by GrubMarket, empowers its retail allies with just this, allowing them to manage their business online and reach more consumers. This is GrubMarket's first acquisition in Canada, and will be supported by the formation of its first overseas software technology R&D center.

Mike Xu, Chief Executive Officer, GrubMarket"Funtech Software is a pioneer in building business-to-consumer (B2C) e-commerce software for physical and online grocery stores,” said Mike Xu, Chief Executive Officer of GrubMarket. “With its profitable, cloud-based software platform, it has developed a reliable, fast-growing customer base in both Canada and the U.S. This acquisition marks the start of our expansion into Canada. It also enables GrubMarket to build an elite software engineering R&D center in Vancouver, leveraging the deep software engineering talent pool available there. Moreover, this acquisition supplements our current software offering to power both B2B and B2C activities in the food supply chain industry. We are excited to welcome the Funtech Software team to the GrubMarket family. Together, we will build a greater customer base and stronger e-commerce network in the food ecosystem across the North American continent."

Funtech designs, develops, and supports e-commerce storefronts for desktop and mobile websites as well as mobile applications, a press release explained. It builds robust backend software systems to manage inventory, orders, pricing, logistics, and packing for online orders. After the acquisition, the business will continue to be managed by its current leadership team.

GrubMarket has acquired Funtech Software, its first acquisition in Canada which will be supported by the formation of its first overseas software technology R&D center

The acquired company’s B2C e-commerce and online grocery software will now be available as part of GrubMarket's software product line. This also includes the wholesaler’s proprietary WholesaleWare software suite, which provides financial management, easy-to-use sales and online ordering features, precise inventory management, lot traceability and tracking, and automated routing and logistics tools.

"We are excited to join the GrubMarket team and welcome the opportunities brought forth by GrubMarket's strong network and technology team. We are constantly striving to build the best e-commerce system solutions for our customers. We are thrilled to learn that GrubMarket shares these same goals. We sincerely look forward to joining the GrubMarket team and working together to bring Funtech Software to the next level of success," said Sam Qi, Founder and Chief Executive Officer of Funtech Software.

As GrubMarket wields this acquisition to build its Canadian footprint, ANUK will watch and see how it bolsters the country’s e-commerce sector overall.

GrubMarket Funtech Software