Singapore-based Giosis Pte Ltd, the parent company of Pan-Asian e-commerce platform Qoo10, raised US$82.1m in Series A funding.
The round was led by SGX-listed Singapore Press Holdings Ltd (SPH), with participation from eBay, Saban Capital Group, UVM 2 Venture Investments LP, Brookside Capital and Oak Investment Partners.
The company intends to use the funds to accelerate technology growth and service development, invest in additional infrastructure and talent acquisition, strengthen its position in Singapore, Japan and Indonesia, and accelerate expansion in Malaysia, Hong Kong and China.
Founded in 2010 with US$20 million seed capital and led by Mr Ku Young Bae, CEO, Qoo10 operates six online e-commerce marketplaces across Asia (Singapore, Japan, Indonesia, Malaysia, Hong Kong and China) which provides users with the opportunity to buy and sell almost anything. It has 17.6 million registered users across the region, and a combined total of US$408m in GMV in 2014.