[1] In February 2016, investment company Wellington Management appointed professional services firm Deloitte as administrators of Powa Technologies.

The company received the largest Series A funding round for a technology start-up at the time, collecting $76 million in August 2013.

[11] The investment company Wellington Management appointed professional services firm Deloitte as administrators of PowaTag.

Under separate deals, PowaTag was sold to a private consortium led by former Powa Technologies director Ben White,[14] while PowaWeb was sold in a buyout backed by Greenlight Digital, a UK-based digital group whose interests include Greenlight Commerce Platform and OneHydra for SEO.

[15] After the collapse of the business, a series of articles by the Financial Times called into question several of the claims that had previously been made.

Basic features included electronic vouchers/coupons, real-time loyalty programme management, alongside secure/efficient mobile payments.

Audio watermarks in the form of inaudible tones embedded within radio, commercials, or live broadcast events were detectable by the app, taking users to a mobile commerce store where a purchase could be made.