Philippines-based end-to-end e-commerce enabler etaily recently announced raising $17.8 million in a Series A funding round. Funding was led by SKS Capital and Pavilion Capital, with co-investments from Japanese ICCP SBI Venture Partners and Kaya Founders. Existing investors such as Magsaysay Group of Companies, Foxmont Capital Partners, JG Digital Equity Ventures, also backed etaily in its latest funding round.
The new funding is expected to fuel etaily’s drive to enhance its presence in Southeast Asia, upgrade its distribution platform for brands, diversify its brand portfolio, and progress its proprietary technology.
“We are just getting started, and will focus our efforts to expand the commerce powerhouse, as we feel strong shared conviction in the opportunity to transform retail and market entry in the Philippines and Southeast Asia,” said Co-Founder Alexander Friedhoff in a LinkedIn post.
Founded in 2020, etaily provides various end-to-end services including brand development, customer relationship management, marketplace management, and more. Etaily also aids in generating substantial volumes of data on consumers’ e-commerce behavior while also providing brands with valuable insights into consumer demand, preferences, and behaviors.
The company so far has about 50 global clients including Levi’s, Crocs, and Skechers, helping them sell on their own websites and/or e-commerce platforms such as Shopee, Lazada, and Zalora.
Etaily was previously recognized as the only e-commerce enabler in the country the 3-star certification from the Lazada Partners Program for all quarters of 2022. This recognition represents Lazada’s top-tier standard for platform partners, given to those who have showcased excellence in in-store management, operations, and fulfillment.
The company is expected to be a crucial partner for brands looking to enter the Southeast Asian e-commerce market, which is expected to hit $230 billion in gross merchandise volume by 2026. To date, etaily is estimated to have handled over 10 million orders and anticipates achieving gross sales of $40 million this year, aiming for a target of $100 million by 2025.