Boston, MA 08/19/2014 (wallstreetpr) –According to reports, WebLinc has made an announcement according to which Safeguard Scientifics, Inc (NYSE:SFE) has made a series A financing of $6 million to it. One of the representatives of WebLincs said that the company had closed the deal on Tuesday.
Objective of Financing:
WebLincs is a well-known online commercial service provider for retailers. The company raised $6 million series A financing from Safeguard Scientifics, Inc (NYSE:SFE) today. The main objective behind this financing is to fuel its intrusive growth trajectory. WebLincs will use the entire funding for expanding sales and marketing activities, business development initiatives, bringing third party partners onboard, and various new developments at the online platform of WebLincs. The company will also look to expand its sales team in coming future so that business growth can be accelerated.
According to Erik B. Rasmussen, Managing Director SFE, “WebLincs has an impressive history of powering numerous brands around the planet through its eye-steering E-Commerce platform.” The management of SFE thinks that the experience of WebLincs in E-Commerce field will prove to be a useful ad-on for the company in coming future. Erik will be joining the board of directors of WebLincs shortly. He expects that this partnership between Safeguard Scientifics, Inc (NYSE:SFE) and WebLincs will bring a lot of positives for both the companies.
E-Commerce is the future of online market; therefore, SFE can take countless advantages from this partnership, think some of the experts. According to an analysis done by ComScore, the offline retail grew at a flat rate of 1% or so in last twelve months or so, but when it comes to E-Commerce, the difference was huge. The growth rate of E-commerce over the past twelve months was 13% (till Q1 2014). If this rate continues to bolster in coming months as well, then you can expect significant growth rate in B2C and B2B segment of E-Commerce. As the WebLincs already has expertise in the segment, therefore, Safeguard Scientifics, Inc (NYSE:SFE) will find itself in a good condition in the future.
