PayTech and customer engagement specialist SKUx raises $11 Million Series A

SKUx, a payments technology and consumer engagement platform, has raised $11 million in a Series A round, bringing total funding to date to $22 million.

The new capital positions the company to scale its current product offerings as SKUx continues its implementations with organisations spanning retail, consumer packaged goods, payments, and healthcare.

The Series A round was led by an unnamed strategic family office investor focused on FinTech and payments and included significant participation from Advection Growth Capital and other investors spanning CPG, retail, and healthcare.

“We are delighted to be invested in SKUx with our capital, advisory services and our network of investors and operators,” says  Greg Kennedy, the Founder and Managing Partner at Advection Growth Capital. 

“We are particularly pleased to have introduced board of advisors member Trisha Asgeirsson to SKUx to help drive the go-to-market for SKUPay. SKUx’s product-based payments deliver cost efficiencies, better data, more effective promotions, and an improved customer experience – across payment networks, retailers, consumer product companies and end consumers.”

“SKUx is precisely the kind of transformational company Advection seeks to support and to help grow.”

“SKUx is deeply grateful for the continued commitment and support of our investors as we continue to strive to provide value for our customers and solve some of their biggest challenges,” says Bobby Tinsley, Co-founder and President at SKUx.

“The launch of SKUPay™ as the next generation of product- based payment standardisation is further testament to the innovation and resolve of our team.”