Philippine-based e-commerce solutions provider Etaily has achieved remarkable growth, reaching $100 million in annual recurring revenue (ARR) in just four years. Now, with strong financial backing, the company is poised for expansion throughout Southeast Asia.
“So many global brands want to break into the region,” says Alexander Friedhoff, Etaily’s German founder and CEO. “But while they see the region’s fast-growing middle class, its very large number of younger consumers, and its high levels of internet penetration, they also recognize the challenges of getting into a number of different markets, each of which have their own characteristics.” Friedhoff launched Etaily in 2020 to address these challenges, providing what he calls an “end-to-end ecommerce solution” through proprietary technology.
This growth has been supported by a range of prominent investors, including major conglomerates like Ayala Corporation and the Gokongwei Group, as well as investment firms such as SKS Capital and Singapore’s Pavilion Capital, a private equity firm under Temasek Holdings. Other investors include the Magsaysay Family, Kaya Founders, Japan’s SBI ICCP Fund, the Chan family, and Foxmont Capital. Ayala Corporation’s initial investment in 2020 signaled early confidence in Etaily, and they continued their support in the 2023 Series A funding round, which raised $17.8 million to scale Etaily’s platform and support regional expansion.
To support its regional expansion, Etaily recently appointed Lester Cuneta as Chief Growth Officer. Cuneta brings experience from roles at Alibaba’s Synagie Group, Unilever Philippines, and Honestbee. “Lester’s background in e-commerce transformation and growth makes him an ideal fit for Etaily’s expansion efforts,” said Friedhoff.
Etaily offers end-to-end e-commerce services for brands entering Southeast Asia, including omni-channel retail integration, digital tools, and marketplace management. A key partnership with PiMerce, a data-driven commerce leader, strengthens Etaily’s ability to provide brands with actionable insights.
Etaily is initially focusing on Singapore and other Southeast Asian markets, adopting an “online-first, offline-to-follow” strategy. The company aims to continue its growth trajectory by combining leadership, technology, and a regional strategy, serving brands in the fashion, beauty, electronics, and FMCG categories.