It was introduced as we speak that ecommerce enabler Shopmatic has raised over $5 million in Collection AA funding spherical led by the know-how centered enterprise capital agency ACP Pte Ltd. The spherical additionally noticed funding for Shopmatic secured from Spring Seeds Capital Pte Ltd primarily based in Singapore.
Shopmatic is headquartered in Singapore with workplaces in Bengaluru and Gurgaon in India and one in Hong Kong. Spotmatic was launched in December 2014 by three former Paypal workers, Yen Ti Lim, Anurag Avula and Kris Chen who in 2015 managed to lift $1.5 million from undisclosed traders.
Shopmatic is a product that gives sellers with the whole ecosystem of promoting on-line for his or her prospects. This contains webstores, listings on social networks and marketplaces in addition to insights and assistance on promoting on-line. It additionally provides assist and help with issues corresponding to funds and logistics.
Sameer Narula, Managing Companion of ACP , mentioned, “We’re enthusiastic about Shopmatic’s imaginative and prescient of enabling mass adoption of e-commerce in rising markets and proud to companion with them as traders. Through the use of the deep data-sets generated on its platform, Shopmatic has the potential to allow SMEs and companions higher goal their providers and merchandise and to speed up the adoption of e-commerce in these excessive development markets. With this spherical of funding, we imagine that the corporate is completely positioned to execute on its regional growth technique and assist change the best way enterprise is completed within the area.”
Ted Tan, Deputy Chief Govt of SPRING Singapore and Chairman of SPRING SEEDS Capital, mentioned, “Going ahead, e-Commerce will play an much more crucial position in omni-channel advertising methods, to assist companies increase globally. We encourage all SMEs to embrace change and go digital. Applied sciences like Shopmatic’s internet and cell platforms will assist rework the best way retailers have interaction their prospects, by providing higher purchasing experiences.”
Following its funding, it’s anticipated that the corporate will increase to South Asian international locations corresponding to Indonesia and the Philippines.
Anurag Avula, CEO of Shopmatic, mentioned , “Now we have witnessed super development in retailers leveraging our platform with month-to-month development charges in extra of 40%. Our strategy of simplicity with a large worth proposition to our prospects has deepened our engagement with sellers and grown the class of on-line sellers. With this spherical of funds, we goal to increase our service to a wider vendor base throughout extra markets in Asia and different rising markets. We’re delighted to have ACP and SPRING SEEDS Capital as our strategic companions and as a part of our development story.”
