e-plicity concludes 2nd round of venture capital financing

Apr 25, 2001, 01:00 ET from e-plicity.com

    HALIFAX, NS, April 25 /PRNewswire/ - e-plicity, a leading software
 development company, announced today it has completed its second round of
 financing in the amount of $2.75 million. The round was led by Business
 Development Bank of Canada's (BDC) Venture Capital Division, in partnership
 with ACF Equity Atlantic Inc.
     "Although a challenging year for technology financing, e-plicity has
 risen above the clutter and remains poised for growth. BDC is committed to
 investing in companies that leverage the wireless Internet to extend business
 reach and increase revenue potential," says Gregory Phipps, Director, Venture
 Capital, BDC. "e-plicity has defined a clear path to commercial success and
 profitability by forging strategic customer relationships. e-plicity's proven
 ability to develop and deliver their product makes them a natural investment
 choice."
     In October 2000, e-plicity launched its first commercial product, a
 wireless payment processing application under the e-plicity Envoy name. This
 service allows merchants to process and authorize payments, including credit
 card, cash and account, from any wireless device, in real-time.
     "This funding will facilitate the export of our wireless payment
 processing system to the United States market," says Malcolm Fraser, President
 and CEO, e-plicity. "We've had interest from leading US financial, carrier and
 payment processing institutions and these monies will make possible the
 delivery of our current product to these customers." e-plicity Envoy's payment
 processing service is currently offered through leading Canadian companies
 including Bell Mobility, Soft Tracks, and Aliant.
     e-plicity also plans to expand e-plicity Envoy to include an order
 management component that will be launched in the Fall of 2001. "e-plicity
 Envoy will be expanded to facilitate every step of the order management
 process so that workers equipped with wireless devices will have the ability
 to access, modify and complete client orders in the field," says Fraser. "This
 will occur by extending information such as inventory, product or customer
 related information, from an enterprise's existing information system to a
 wireless device."
 
     About e-plicity
     e-plicity is a leading software development company. Its product, e-
 plicity Envoy, is targeted to enterprises with mobile workers. It allows
 enterprises to extend existing corporate information systems and process to
 mobile workers equipped with low-cost handheld devices including wireless
 phones, RIM pagers, Palm devices and PocketPCs. Mobile workers can access,
 modify and complete client orders and client payments, from these devices.
 This ability reduces operating costs, improves corporate competitive
 advantage, increases productivity, and cultivates customer loyalty.
 
 

SOURCE e-plicity.com
    HALIFAX, NS, April 25 /PRNewswire/ - e-plicity, a leading software
 development company, announced today it has completed its second round of
 financing in the amount of $2.75 million. The round was led by Business
 Development Bank of Canada's (BDC) Venture Capital Division, in partnership
 with ACF Equity Atlantic Inc.
     "Although a challenging year for technology financing, e-plicity has
 risen above the clutter and remains poised for growth. BDC is committed to
 investing in companies that leverage the wireless Internet to extend business
 reach and increase revenue potential," says Gregory Phipps, Director, Venture
 Capital, BDC. "e-plicity has defined a clear path to commercial success and
 profitability by forging strategic customer relationships. e-plicity's proven
 ability to develop and deliver their product makes them a natural investment
 choice."
     In October 2000, e-plicity launched its first commercial product, a
 wireless payment processing application under the e-plicity Envoy name. This
 service allows merchants to process and authorize payments, including credit
 card, cash and account, from any wireless device, in real-time.
     "This funding will facilitate the export of our wireless payment
 processing system to the United States market," says Malcolm Fraser, President
 and CEO, e-plicity. "We've had interest from leading US financial, carrier and
 payment processing institutions and these monies will make possible the
 delivery of our current product to these customers." e-plicity Envoy's payment
 processing service is currently offered through leading Canadian companies
 including Bell Mobility, Soft Tracks, and Aliant.
     e-plicity also plans to expand e-plicity Envoy to include an order
 management component that will be launched in the Fall of 2001. "e-plicity
 Envoy will be expanded to facilitate every step of the order management
 process so that workers equipped with wireless devices will have the ability
 to access, modify and complete client orders in the field," says Fraser. "This
 will occur by extending information such as inventory, product or customer
 related information, from an enterprise's existing information system to a
 wireless device."
 
     About e-plicity
     e-plicity is a leading software development company. Its product, e-
 plicity Envoy, is targeted to enterprises with mobile workers. It allows
 enterprises to extend existing corporate information systems and process to
 mobile workers equipped with low-cost handheld devices including wireless
 phones, RIM pagers, Palm devices and PocketPCs. Mobile workers can access,
 modify and complete client orders and client payments, from these devices.
 This ability reduces operating costs, improves corporate competitive
 advantage, increases productivity, and cultivates customer loyalty.
 
 SOURCE e-plicity.com