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Payment startup ShopKeep POS – who call themselves “the Square of the East Coast” – has just raised $10 million in a second round of funding. Like its more famous competitor, the company provides retailers with an iOS-based application that transforms an iPad into a card-swiping payment system while collecting a percentage of every transaction. Unlike its western rival however, ShopKeep POS does more than just process payments. The system offers a range of retail functionalities such as employee tracking, full time-clock functionality and detailed reporting. As opposed to Square, the startup is 110% focused on merchants, says ShopKeep’s CEO Jason Richelson. The company is committed to improving retailers’ experience, providing them with the right tools and processes to run their shops in the most efficient and effective way.
From small single-location retailers to larger shops, the startup has already signed up over 3,000 stores across the country to use its check-out and management solution. The latest round of funding will be used to invest in product and business development as well as to bring in more engineers on the project. If it keeps it up, ShopKeep POS might just follow the path of Square to widespread success, too.
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