VANCOUVER, BC, April 7, 2021, Loop Insights Inc. (MTRX:TSXV RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights and enhanced customer engagement to the brick and mortar space, is pleased to announce the Company has completed its integration to Vend’s Billing API, providing Vend retailers with seamless onboarding to Loop’s multi-domain, franchise compliance, and historical reporting solutions.
Loop Insights First to Integrate with Vend’s Billing API, Providing a Seamless Onboarding Option for Vend’s Global Client List of over 20,000 Customer Locations Worldwide
Vend Director of Product Partnerships Lowry Gladwell stated:
“The completion of Loop’s integration with the Vend Billing API is an example of how Vend works closely with partners to deliver value for our retailers. It has been great to see Loop’s enthusiasm for the project and we’re thrilled that our Vend retailers can now onboard clients to benefit from Loop’s products and services faster than ever before, giving them easier access to the multi-domain, franchise and historical reporting that Loop offers.
Additionally, our announced acquisition by Lightspeed, which is expected to close towards the end of April, will allow Vend and Loop to reach new clients, with a particular focus on expansion in Asia-Pacific. I look forward to connecting Vend’s expanding customer base with Loop’s amazing solution stack.”
Loop Insights CEO Rob Anson stated: “Vend’s support of Loop’s integration to their Billing API speaks volumes about its confidence in Loop and our retail solutions. With the development of our Billing API integration now complete, both Loop and Vend are positioned to generate new sales opportunities through this successful partnership. Loop’s retail Insights service can now be onboarded to over 20,000 Vend customer locations, with the ability to scale to support Lightspeed’s 135,000 worldwide locations through Lightspeed’s recent acquisition of Vend. This API integration represents a massive revenue-generating opportunity for Loop, Vend, Lightspeed, and their many customers.”
Loop Insights is the first company to complete a full billing API integration with Vend, reflecting Vend’s confidence in Loop’s products and their ability to deliver value to Vend’s clients. Vend has introduced Loop to all of their customers worldwide through their digital customer newsletter and some Vend customers have already begun the onboarding process with Loop. Vend is now expected to launch expanded sales and marketing campaigns in support of Loop and its API integration, explaining the benefits of Loop’s products and services to Vend’s growing customer list.
With Loop’s Insights, Engage, and Wallet pass platform all gaining interest from brands and retailers across the world, Vend will now be able to offer a simple onboarding process for retailers, drastically reducing the time required to integrate a new client and deploy Loop’s products and services.
On March 11th, Vend Director of Product Partnerships Lowry Gladwell joined the ‘Loop Experience’ podcast to discuss the benefits of Loop’s integration with the Vend API, particularly for franchisors looking to integrate multiple locations. Listen to the full episode here or read the full interview transcript here.
API Integration Will Accelerate Loop’s Growth in the $23-trillion Global Retail Market with Access to Over 155,000 Global Retail Clients
Loop Insights’ integration with the Vend Billing API will allow Loop to more rapidly onboard Vend’s growing client list in the $23-trillion global retail market.
On March 11th, Lightspeed POS Inc. (NYSE:LSPD) (TSX:LSPD), a leading provider of cloud-based, omnichannel commerce platforms, announced it had entered into a definitive agreement to acquire Vend. The acquisition will greatly expand Lightspeed’s existing foothold in Asia-Pacific, approximately doubling its existing customer base in that region.
The combination of Lightspeed’s scale with the talent and technology available to Vend, including Loop Insights’ products and services, is expected to greatly benefit Lightspeed and its massive customer base. Following the closing of the acquisition, Lightspeed will operate as the preferred technology provider for over 155,000 existing customer locations worldwide.
This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/LoopInsights
Vend is a cloud-based point-of-sale and retail management software that lets retailers run their business in-store, online, and on-the-go. Vend includes inventory management, eCommerce integrations, customer loyalty, and reporting analytics tools. The first POS built for iOS, Vend is trusted by retailers in over 140 countries and is used in more than 20,000 customer locations worldwide. Vend integrates with leading tools like Bigcommerce, Quickbooks and Marsello and provides seamless integrated payment options by partnering with major banks and processors around the world. Founded in 2010, Vend has offices in Auckland, London, Toronto and Melbourne, and has raised more than $50 million from top-tier investors. For more information, please visit: https://www.vendhq.com/
About Loop Insights
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, venue tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
Notice Regarding Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing of the Transaction; post-closing objectives of Loop for acquired assets; the expectation of additional revenues to Loop post-closing; the expectation that Loop will be able to successfully integrate the acquired assets; that the Acquisition may position Loop for future growth; and that the vendors will assist Loop with the transition of operations post-closing. There are numerous risks and uncertainties that could cause actual results and Loop’s plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) COVID-19 risks; (ii) difficulties and delays associated with integrating and growing the acquired assets post-closing; (iii) risks inherent in the technology and AI industries in general; (iv) other factors beyond the control of the Company; and (v) risks outlined in Loop’s publicly filed documents available on SEDAR. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.