Zaapi, a Singapore-based mobile app that enables small businesses to launch their e-commerce presence, raised US$4m in seed funding.
The round was led by GFC, Flourish Ventures, and Partech, with participation from 1982 Ventures, Kaya Founders, Iterative, XA Network, and Sketchnote Partners/Invertidos. Flash Ventures, an early backer in Zaapi with ties to GFC, invested US$500k in pre-seed funding in March 2021, allowing the company to launch in Thailand in August 2021.
The most recent round will allow Zaapi to triple down on their efforts to build and scale the best-in-class product regionally.
Launched in 2021 by Wilfried Buiron, an experienced e-commerce founder who previously built and run a direct-to-consumer brand, Zaapi provides MSMEs with an interface to create an online store from their mobile devices. From selling to buying and financing, the company aims to digitize all key functions of the small business. 6 months after launching, the app is now powering ~10,000 businesses across 70+ cities in our first market, Thailand.
FinSMEs
09/03/2022