E-commerce Enabler Etaily Secures $17.8 Million in Series A Funding for Southeast Asia Expansion
E-commerce in Southeast Asia has experienced remarkable growth over the past year, and this trend is expected to continue. A recent McKinsey report forecasts that the market will triple in size by 2026, reaching a staggering $230 billion in gross merchandise volume. With such vast potential, it comes as no surprise that global brands are eager to establish a presence in the region. This is where etaily comes in, offering a comprehensive suite of solutions to help brands build, manage, and scale their e-commerce operations in Southeast Asia.
Key Takeaway
etaily, a leading e-commerce enablement platform, has secured
7.8 million in Series A funding to expand its operations in Southeast Asia. The company provides end-to-end solutions for global brands looking to enter the region, with a focus on e-commerce and omnichannel capabilities. With its diverse range of services, etaily enables brands to build, manage, and scale their e-commerce operations effectively, allowing them to tap into Southeast Asia’s rapidly growing market.
Raising $17.8 Million in Series A Funding
Today, etaily, founded in 2020 and headquartered in the Philippines, announced that it has raised $17.8 million in its Series A funding round. Leading the investment were SKS Capital, a Chinese and Taiwanese private equity firm, and Singapore’s Pavilion Capital. SBI ICCP, a joint venture between ICCP Venture Partners in the Philippines and SBI Holdings of Japan, as well as Kaya Founders, the Magsaysay family, Chan family, Foxmont Capital, and JGDEV, the corporate venture arm of JG Summit Holdings, also participated in the funding round. This significant capital infusion will enable etaily to further expand its services and make inroads into new markets.
Helping Brands Succeed in Southeast Asia
etaily offers a comprehensive ecosystem of solutions for e-commerce and omnichannel global brands, including its own portfolio of brands. With around 50 global clients, including Levi’s, Crocs, Reckitt, and Skechers, etaily assists these brands in developing lifestyle products, managing their presence on platforms like Lazada and Shopee, and fulfilling orders through its asset-light warehouse network. The company has already processed over 10 million orders and aims to achieve gross sales of $40 million this year, with a target of $100 million by 2025.
A Leader in E-commerce Enablement
Prior to founding etaily, CEO Alexander Friedhoff had extensive experience in the retail industry. Working with companies like German shirt brand van Laack and Southeast Asia e-commerce platform Zalora, Friedhoff honed his expertise in manufacturing, product development, business development, and e-commerce implementation. It was his recognition of Southeast Asia’s status as one of the fastest-growing consumer markets in the world that prompted him to launch etaily in the Philippines, with a particular focus on the rapidly expanding e-commerce market in the country.
Delivering Value to Brands
etaily primarily serves brands in six segments: fashion, consumer electronics, lifestyle, beauty, home and living, and fast-moving consumer goods. The company’s value proposition lies in its managed services and technology offerings. With its economies of scale, etaily helps brands grow efficiently without adding significant overhead. Its wealth of customer data, market knowledge, and optimization capabilities further assist brands in reaching their target audiences effectively. Monetization is achieved through a revenue-sharing model and a subscription model for access to etaily’s software and services.
Creating a Competitive Edge
In a competitive landscape, etaily sets itself apart through its meticulously designed operating platform and its ability to capture more of the value chain. Its omnichannel capabilities integrate offline point-of-sale systems, providing a seamless experience for global consumer brands entering the Philippines. Additionally, etaily’s access to extensive data insights derived from scaling different e-commerce brands positions it as a valuable partner for brands seeking to understand consumer behavior, demand patterns, and channel effectiveness.
Expanding in Southeast Asia
With its latest funding, etaily plans to expand its operations in Southeast Asia, particularly in Malaysia, Indonesia, Singapore, and the Philippines. The company aims to enhance its distribution platform for brands, increase its portfolio of brands, and invest in its proprietary technology, including its operating system, data analytics, and Clarity, its end-to-end e-commerce technology and operating ecosystem. As etaily continues on its growth trajectory, it is well-positioned to revolutionize e-commerce enablement in Southeast Asia and drive substantial advancements in omnichannel technology solutions.
