Etaily secures $1.6 million initial capital to bolster local, regional e-commerce

101
Image by www.freepik.com

By Business Mirror

Digital trading platform provider Etaily has raised $1.6 million in seed funding, which is expected to spur the growth and development of Philippine e-commerce, while preventing the breakout of the so-called retail apocalypse.

“We will not allow the retail apocalypse that happened in the US and Europe because we are giving traditional retailers the digital fighting chance to compete for the local as well as regional market. We are connecting online brands and retailers to Asean consumers by integrating their business offline and online. The most important thing is there is one winner, the final consumer. And we are happy to give them a fighting chance and to support end-to-end throughout their journey,” Etaily chief executive officer Alexander Friedhoff said in their recent webinar, dubbed “Breaking The e-Retail Ceiling In Asean.”

Launched in March 2020, Etaily provides brands with end-to-end omni-channel solutions while integrating their offline and online retail processes and services. This approach will provide traditional retail companies a lifeline into the digital world and continue to connect Filipino brands to their consumers.

The e-retail enabler has generated more than 1 million transactions, made more than 50,000 unique products available to the entire country and beyond, such as Malaysia, Indonesia and Singapore. It has managed over 20 brands across all online channels, activated more than 10 offline retailers for online capability, and has a projected $10 million gross merchandise value revenue for 2021.

READ full story HERE.