Shopmatic, a Singapore-based e-commerce enabler, raised a $5.7m Series AA funding.
Backers included ACP, Spring Seeds Capital and other investors. As part of this round of funding, Mr. Sameer Narula, Managing Partner, ACP, shall be joining the Board of Directors of Shopmatic.
The company intends to use the funds to expand into other markets in Indonesia, the Philippines and the Middle East following India, Singapore and Hong Kong.
Founded in December 2014 and led by Anurag Avula, CEO, Shopmatic is an e-commerce company providing a platform for merchants, including brick-and-mortar retailers and those selling on online marketplaces, and individual entrepreneurs to build their online stores, list it on an e-marketplace, promote it on social channels, and provide customer insights.
In the past year, Shopmatic has launched Shopmatic Go, a mobile-centric product with more than 140,000 downloads since November and acquired Taiwan-based 5xRuby, a technology development house.