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Singapore e-commerce startup Shopmatic expands to the Middle East
SINGAPORE – Shopmatic, a Singapore-based startup that provides e-commerce solutions to small businesses, has expanded into the Middle East, its third regional market after India and South-east Asia.
Shopmatic is working with Network International, an e-payments solutions provider in the Middle East and Africa, to launch Go-online, a platform that allows small and medium startups and businesses in the United Arab Emirates to create Web stores and sell to customers across the country and beyond.
Anurag Avula, co-founder and chief executive officer of Shopmatic said: “This marks our entry into one of the most exciting emerging e-commerce markets. Our platform allows anyone to sell online, be it a small business or an individual entrepreneur, and we strive to democratise the process, making it easy, simple and cost-effective.”
The platform is localised for each market and includes “all the pieces of the e-commerce ecosystem”, ranging from built-in analytics and inventory management tools to payment and shipping options, said Shopmatic.
It helps users to list their products on online marketplaces such as eBay, Amazon and Lazada. Users can also seek advice from Shopmatic’s e-commerce consultants on how to set up their online stores or boost sales, said the startup. “On the regular Shopmatic platform, sellers can set up an entire store in under 15 minutes.”
In December 2014, Shopmatic launched in Singapore, India and Hong Kong. The company targets to enter 20 markets by 2020, starting with Indonesia, Malaysia and the Philippines this year.
Last year, Shopmatic raised pre-series A funding of US$5.7 million in a round led by Singapore-based venture capital firm ACP and Spring Singapore (now Enterprise SG).
Source: https://www.straitstimes.com/business/companies-markets/singapore-e-commerce-startup-shopmatic-expands-to-the-middle-east