The ecommerce platform serves US-based and international consumers in the dietary supplement and natural health products market
Corp () (OTCPINK:PEMTF) is planning to acquire ecommerce platform Unified Funding LLC, it said Friday evening.
Unified Funding’s database of over one million users has generated over C$375 million in customer transactions since its inception in 2015.
The ecommerce platform is focused on serving US-based and international consumers in the dietary supplement and natural health products market. The company also assists brands to launch and scale customer acquisition strategies and closely monitors market trends.
READ: Mota Ventures trumpets Nature's Exclusive CBD revenue growth, German psychedelic acquisition in conference call
The letter of intent is a key step forward in Vancouver-based Mota’s expansion as a global ecommerce business, according to the firm’s CEO Ryan Hoggan.
“This is the platform and personnel necessary for Mota to launch and grow brands, such as Nature's Exclusive, which we acquired from Unified in January of 2020,” Hoggan said in a statement.
“Unified has developed a comprehensive ecommerce platform that is ideally suited for the natural health products sector. Integration of their platform and the personnel to run it will allow us to rapidly deploy new products and expand into new natural health product segments and markets.”
Unified generated around C$96.5 million in consumer transactions in 2019, according to a release.
"We are hopeful that a transaction with Mota will allow our group to use our skills to expand into additional international markets, create new natural health brands and reach more consumers,” said Unified’s chairman Kevin Kerane. “Mota's access to capital markets to raise growth capital to invest in customer acquisition will give us a distinct advantage to quickly scale, diversify and expand into new high growth product offerings.”
Mota is an established ecommerce, direct-to-consumer provider of a wide range of CBD products in the United States and Europe.
Shares of Mota gained 2.7% on Monday morning to stand at C$0.38.
--Updated with share price--
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