Some very cool news related to the Bindo Point of Sale (POS) solution. As I have mentioned before, Bindo POS is a true "Mobile 2.0" point of sale solution with additional features and functions not found in Clover or Silver. Bindo POS still retains the affordable monthly payment structure that today's retailers prefer over an upfront cost of $4000-$10000+ for a traditional point of sale system.
Based on phone calls and emails that I receive several times per week via this (rather basic) blog site, retailers of all sizes are choosing Bindo as their POS solution with a nearly 5 to 1 margin over other solutions like NCR Silver, Clover, QuickBooks POS, NCR CounterPoint, Retail Pro, and Microsoft Dynamics RMS.
I also want to let folks know that Bindo will be expanding to service the geographical areas formally served by DirectPOS who stopped selling and supporting POS systems in late summer 2013. This is great news for retail stores and museums in the states of Idaho, Utah, Wyoming, Oregon, Washington and Montana!
Here is the official press release from Bindo:
FOR IMMEDIATE PRESS RELEASE
PRESS CONTACT
Benedict Wong
VP Business Development at Bindo
NYC RETAIL STARTUP BINDO RAISES USD1.8M SEED ROUND AND OPENS NEW
OFFICE IN SINGAPORE
Bindo Expands in Asia: An iPad POS That Helps Small Businesses Compete with Amazon
MAY 29th, 2014 (New York, NY) Bindo, a New Yorkbased retail startup has just raised an
oversubscribed $1.8mn seed round for international expansion. The round is coled by Gary
Vaynerchuk, a renowned social media and wine expert, and Singapore/Tokyobased East
Ventures. Other investors include NYCbased Metamorphic Ventures, and other private angels
with decades of experience in brick and mortar retail, ecommerce and internetrelated
businesses.
Bindo has developed a cloudbased iPad Point of Sale (POS) system that enables 24/7 online
shopping for the end consumer. Not only does the POS offer a comprehensive array of features
ranging from inventory management to customer relationship management (CRM), Bindo offers
merchants the mobility to consult, sell, and close the deal simultaneously, providing a VIP
experience to every customer. Its CRM creates customer profiles at the point of checkout
enabling the merchant to later engage with the customer postsale.
More uniquely, merchants can launch their entire store online onto web and mobile with one click
and efficiently operate omnichannel commerce with one unified inventory, saving hours of store
management tasks each week. This turns the POS into a powerful retail platform capable of true
online and offline commerce. Bindo Marketplace then aggregates all the stores on the Bindo
network, onto one consumer platform, and allows consumers to shop from their favorite
neighborhood store online, and have it delivered within hours
“Our mission at Bindo is really to strengthen local economies and support local businesses,
whilst making shopping more convenient for consumers”, said Brad Lauster, cofounder of Bindo.
“Having personally experienced the difficulties small business face selling online, we wanted to
find a way to bring merchants online without diluting brand awareness. We are not interested in
simply providing an online storefront for merchants to promote themselves; we are aggressively
comarketing our marketplace with our merchants so that together, we have the means to battle
the Goliaths of ecommerce.”
The Bindo Marketplace app also makes mobile commerce and ecommerce infinitely more
convenient for the consumer, by bridging the gap between online and offline retail. Instore
purchases are saved, viewable and reorderable on the mobile app, and loyalty points are tracked
across multiple channels. It is a hyperlocal marketplace for consumers that want to find and
purchase a particular product in their neighborhood stores online, which they can do so scanning
the barcode with their app.
Bindo will split the funding equally between development and sales. The development team will
focus on delivering the Marketplace and providing a seamless experience for both merchant and
consumer. Since Bindo’s private beta launch, inbound leads have been increasing exponentially
each month; substantial resources will be allocated to scaling the sales team to support the
rapidly growing number of merchant demo requests.
ABOUT (BINDO)
Bindo is a NYC startup with offices in Hong Kong. It was founded in 2011 by Jason Ngan and
Brad Lauster. Bindo has developed a cloudbased iPad POS (PointofSale) that enables online
shopping for the end consumer. In a few months, it will be releasing Bindo Marketplace: a
consumer app that aggregates all the stores using Bindo POS onto one platform, allowing
consumers to purchase directly online from their favorite neighborhood store, and have it
delivered. In doing so, Bindo aims to close the loop between the online and the offline. As the
network grows, Bindo becomes a realtime product graph, connecting brands, consumers and
merchants.
