HipVan, a Singapore-based online store for designer furniture, home furnishings, and lifestyle products, closed a S$4.7m Series A funding.
The round, which followed a S$1.65m seed funding closed in July 2015 and brought total funding to S$6.35m, was led by Singapore-based Golden Gate Ventures with participation from East Ventures, Toivo Annus, LionRock Global, and other individual investors including the Managing Director & CFO of Barclays Asia Pacific. As part of its investment, Vinnie Lauria, Founding Partner at Golden Gate Ventures, will be joining HipVan’s board of directors.
Founded in April 2013 and led by Danny Tan, CEO, HipVan currently offers over 20,000 products in furniture, home & living, kitchen & dining, bedroom, lighting, decor, bath, home appliances, lifestyle and kids categories, through its web store and iPhone application.
Since its last round of funding, the company is adding over 150,000 online shoppers every month, and has also enhanced its product offerings and prices through opening direct sourcing from manufacturers. They have also added senior hires from large furniture producers, KPMG, Zalora and Groupon to its team.