We launched Purchs today. Here’s how and why.

In 2016, FreshSpoke was launched with a bold vision: to revolutionize the sourcing and distribution of local food. Our unique platform quickly gained traction, and by 2022, we had achieved profitability and successfully raised over $2 million in funding. This period was marked by significant growth and numerous achievements, solidifying our presence in the market.

However, in 2022, an enticing partnership opportunity arose that promised to elevate our business to new heights. Within the first 60 days of the partnership, we faced catastrophic losses, with 75% of our business gone almost overnight.

During this challenging period, the  hard-earned respect we had earned eroded. That was tough but we did not give up.  Instead, we examined every aspect of our operation, re-evaluated our strategies, and sought innovative solutions to rebuild and strengthen our business model and value proposition. We re-branded from FreshSpoke to Purchs, invested in market research, and new technology. This process not only helped us regain our stability but also allowed us this come back with an even stronger more impactful business model that solves real and growing challenges for retail merchants and their vendors.

From FreshSpoke to Purchs

FreshSpoke was built as a single tenancy platform that supported our own distribution business. Purchs, on the other hand, is a multi-tenancy, SaaS platform that helps retail merchants easily source goods and manage billings from all their vendors. We are the first to use conversational commerce and AI in B2B sales.

As the first in the industry to integrate conversational commerce and AI in B2B sales, Purchs offers an unparalleled experience. With the help of our AI assistant, Purcy, merchants can scan a Product UPC code with their smartphone and complete transactions via text—no login, app, search, or checkout needed.

For product manufacturers and distributors, Purchs provides a powerful e-commerce solution that is entirely frictionless. Vendors can list products with custom prices, control inventory and delivery, manage customers, and automate payments, all within a single platform. This comprehensive approach empowers vendors to streamline their operations, reduce overhead costs, and scale their businesses effectively.

 Impact and Innovation

Through these efforts, our company has emerged stronger and more determined than ever. The adversity we faced was our crucible moment. It taught us invaluable lessons and spurred a wave of innovation that has since propelled us forward. Our journey from the brink of collapse to recovery is a testament to the power of perseverance and the importance of continually adapting and evolving in the face of challenges.

Our innovation has significantly impacted both our business and the wider community. While FreshSpoke laid the groundwork as a single tenancy platform, Purchs has taken innovation to the next level. Purchs is a multi-tenancy, omnichannel platform that revolutionizes the way retail merchants source goods and manage billings from all their vendors.

Collaborating for Success

We could not have achieved our success without the invaluable support of several partners and collaborators. The mentorship and financial support from our investors have been crucial. We also received tireless support from Entrepreneurs in Residence (EiRs) at Innisfil DMZ, and being accepted into Google's start-up program was a significant milestone. Additionally, we leveraged the resources and support of another innovative start-up called CodeAura, which assisted us with senior AI and computer engineering leadership and guidance.

The result of these partnerships is proof of the strength of collaboration. We have been able to overcome challenges, innovate, and grow thanks to the collective efforts and support of our partners and collaborators.

Conclusion

The challenges we faced with FreshSpoke shaped our vision for Purchs. By integrating advanced technology with a decade of industry know-how, Purchs addresses the complexities of retail distribution, empowering brands to achieve lasting success.