Ecommerce aggregator iPrice secures USD 10 mln in series B funding

Tuesday 3 March 2020 10:29 CET | News

Malaysia-based ecommerce site aggregator iPrice Group has raised USD 10 million in a series B funding round led by ACA Investments.

Daiwa PI Partners, Line Ventures, and Mirae Asset-Naver Asia Growth Fund also participated in the round, according to a statement. With the new funds, iPrice said it seeks to go beyond its existing business lines and become a top online shopping companion in Southeast Asia and a key ecommerce enabler for super apps.

Founded in 2014, iPrice currently has about 1.5 billion product listing on its platform from over 1,500 merchant partners across Singapore, Malaysia, Thailand, Vietnam, Hong Kong, and the Philippines. It has expanded to offer product discovery opportunities for fashion items, home and living products, and coupons for various categories.

According to the e-Conomy SEA 2019 report from Google, Temasek, and Bain & Company, ecommerce is the region’s biggest and fastest-growing sector, valued at USD 38 billion in 2019. That number is expected to rise to USD 150 billion by 2025.

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Keywords: iPrice, ecommerce site aggregator, series D funding, funding round, Daiwa PI Partners, Line Ventures, Mirae Asset-Naver Asia Growth Fund, Asia, APAC, ecommerce, Temasek, Google, ecommerce, Singapore, Malaysia, Vietnam, HingKong
Categories: Payments & Commerce
Countries: Malaysia
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Payments & Commerce