Singapore-based etailer Shopmatic raises pre-series A round
As part of this round, Sameer Narula, managing partner at ACP, will join the board of Shopmatic.
Shopmatic will use the funds to expand to Indonesia, the Philippines and West Asia. As part of this round, Sameer Narula, managing partner at ACP, will join the board of Shopmatic. "With this round of funds, we aim to expand our service to a wider seller base across more markets in Asia and other emerging markets," said Anurag Avula, CEO of Shopmatic.
Shopmatic, which was founded in December 2014, enables small and medium enterprises (SMEs) and entrepreneurs to take their business online. Its platform enables SMEs to build their online stores with integrated payment and shipping functions and sell their products or services through multiple channels. Data analytics and insights have also been built into the platform to help sellers be more effective in reaching out to their target audience. Over the last year, Shopmatic has launched Shopmatic Go, a mobile-centric product with more than 1,30,000 downloads since November, and has acquired Taiwan-based 5xRuby, a technology development house.
"By using the deep data-sets generated on its platform, Shopmatic has the potential to enable SMEs and partners better target their services and products and to accelerate the adoption of ecommerce in these high-growth markets," said Narula.