Yoobic-Brothers-1024x529

RetailTech startup YOOBIC has raised a $5.3m (£4.1m) Series A from London-based VC firm Felix Capital.

The London-headquartered startup has created a B2B mobile solution enabling retailers to monitor their operations in real time.

Fabrice Haiat, co-founder and CEO of YOOBIC, said the company self-financed for two years thanks to 400% annual growth. He claims more than 25,000 points of sale are now monitored with the YOOBIC solution in more than 35 countries across Europe, Asia and North America.

“We wanted to prove the relevance of our business model before raising funds,” he added.

YOOBIC is planning to double the size of its team within the next 12 months and open offices in the US. It already has more than 50 employees in London, Paris and Tel Aviv, but it is on the lookout to strengthen its customer success and R&D teams.

“We were won over by the experience of the founders, the quality and the complementary skillset of the team, but also the maturity of the solution”, said Fréderic Court, of Felix Capital.

“The hyper growth of the company, its artificial intelligence technology and its international ambition immediately made YOOBIC an obvious choice for our investment portfolio,” he concluded.