Electronic commerce enabler etaily announced Wednesday a $17.8-million series A funding round aiming the scale up its end-to-end ecommerce entry platform for brands allowing seamless engagement of consumers and merchants.
Chinese and Taiwanese PE firm SKS Capital and Singapore’s Pavilion Capital led the funding round.
Other funders are Japanese SBI ICCP Fund and Kaya Founders, the Magsaysay family, Chan family, Foxmont Capital and JG Digital Equity Ventures (JGDEV), the corporate venture capital arm of JG Summit Holdings.
Other partners include SEA retailers and conglomerates such as the Ayala Corp., the Cheng family behind the department store chain Landmark, angel investors including Zamora co-founder Paulo Campos and Boston Consulting Group managing director and senior partner Anthony Oundijan.
Headquartered in the Philippines, etaily quickly established itself as a pathway for brands seeking to sell their goods online across SEA.
“Our unique digital approach sets us apart, making etaily the architect of digital brands and retail. Today, people in the region buying something online from the leading retail and digital brands such as Crocs, Levi’s, Skechers, Fila and many others – all of it is being powered by etaily’s infrastructure,” said etaily founder and CEO Alexander Friedhoff.
It is powered by a proprietary operating system for end-to-end commerce technology, providing unique end-to-end distribution solutions in ecommerce and omnichannel for global consumer brands in the region as well as its own brand portfolio.
The ecosystem spans the entire customer journey, from development of lifestyle products through in-house branding capabilities to delivery to a local and regional customer base from etaily’s asset light warehouse network.
Fours years and counting, etaily has served more than 50 global consumer brands and processed over 10 million orders on platforms such Lazada, Shopee and direct-to-consumer brand.com online stores.
Company gross sales in 2023 tripled and were on track to reach $100 million in the near term.
Its portfolio of exclusive brands comprises Levi’s, Crocs, Skechers and Reckitt, bringing its total brand count to more than 50, managed on +200 storefronts. Its own brands range from categories such as pets’ supplements, health, personal care and food and beverage.
“With our unbeatable ecosystem, more than ever demanding online-first strategy, and adaptable digital operations, we’re poised to transform retail in the Philippines and SEA. As the tides of e-commerce reshape the retail landscape, etaily’s agile, fully digital platform promises brands a successful journey into the future,” said SKS Capital founder Jack Chen.
