Anchanto, a Singapore-based B2B software-as-a-service (SaaS) company specializing in eCommerce technology, raised S$16.6M in Series C funding.
The round, announced on August, 14th, 2020, saw the participation from Asendia, a joint-venture of the French National Post La Poste and State-run Swiss Post, and MDI Ventures, the corporate venture arm of Indonesian telco firm Telkom Indonesia. In conjunction with the funding, Marc Pontet, CEO of Asendia, and Donald Wihardja, CEO of MDI Ventures, will be joining Anchanto’s board.
Anchanto will use the funds to strengthen its research & development portfolio to launch two new products, build data platform and expand to three more markets. The company will also invest in hiring skilled people to enhance and accelerate the launch of its new products into markets.
Led by Vaibhav Dabhade, CEO and Founder, Anchanto is a B2B software-as-a-service (SaaS) company specializing in eCommerce technology. The company’s SaaS offerings – which are developed in-house – simplify backend operations and help enterprises achieve productivity through automated eCommerce management. This includes: SelluSeller, which is an online multi-channel eCommerce management software as well as a mobile application; and Wareo, a full-suite warehouse management system that helps businesses manage B2B and B2C operations through a single system.
Anchanto currently serves a massive customer base comprising global players (including three Fortune 500 companies) such as Nestle, Pos Malaysia, GreatDeals, Luxasia, DKSH, DHL eCommerce, Bench Retail, MYDIN, and more. As of last year, the company’s platforms have helped streamline the eCommerce operations of more than 12,000 business and sellers consisting of over 300 global enterprises. Anchanto’s customers manage over 67 million+ stock keeping units (SKUs) and 115 million+ listings, and have processed a combined Gross Merchandise Value (GMV) of nearly US $2.71 billion via their platforms.
The round also marked the launch of a partnership with Asendia AG, an European cross-border eCommerce shipping and mail services company. Asendia is the fourth customer to turn into a shareholder after MDI (Telkom Indonesia), Transcosmos Japan, and Luxasia.