The e-commerce market in Southeast Asia is growing rapidly and is projected to reach $230 billion (in gross merchandise value) by 2026. Philippines-based e-commerce platform enabler etaily helps global brands use this opportunity. Now, etaily has netted $17.8 million in Series A funding.
The funding round was led by Chinese and Taiwanese PE firm SKS Capital and co-led by Singapore’s Pavilion Capital alongside Japanese SBI ICCP Fund and Kaya Founders. The round also saw participation from the Magsaysay Family, Chan family, Foxmont Capital and JGDEV, the corporate venture capital arm of JG Summit Holdings.
etaily’s cap-table also includes other renowned SEA’s retailers and conglomerates such as the Philippines oldest conglomerate Ayala Corporation, the Cheng family behind the department store chain Landmark and renowned angel investors, including Paulo Campos, former Co-Founder and CEO of Zalora and Anthony Oundijan, Managing Director and Senior Partner of Boston Consulting Group.
etaily will deploy the fresh capital to deepen its presence in Southeast Asia, enhance its distribution platform for brands, expand the brand portfolio including own brands and licenses of international lifestyle brands. Further investment will be made into its proprietary technology stack including its operating system, data analytics and AI platform etaily clarity.
Helps online consumer brands
Founded in 2020 by Alexander Friedhoff, ex-Zalora team member, etaily’s vision is to help global consumer brands selling online. It is powered by a proprietary operating system for end-to-end commerce technology.
etaily provides unique end-to-end distribution solutions in ecommerce and omnichannel, for global consumer brands in the region and its own brand portfolio. This ecosystem spans the entire customer journey, from the development of lifestyle products through in-house branding capabilities to delivery to a local and regional customer base from etaily’s asset-light warehouse network.
Currently, etaily has served more than 50 global consumer brands and processed over 10 million orders on platforms such as Lazada, Shopee and direct-to-consumer brand.com online stores. Gross sales at etaily in 2023 have tripled and are on track to reach $100 million over the coming years. Its portfolio of exclusive brands currently comprises Levi’s, Croc’s, Sketchers, and Dyson, bringing its total brand count to over 50, managed on over 200 storefronts. Its own brands range from categories such as pet supplements, health, personal care, and food and beverage.
Alexander Friedhoff, Founder & CEO of etaily commented: “For the last three years, we’ve focussed our passion into crafting something great at etaily – an all-encompassing commerce powerhouse. From the very birth of our lifestyle products to their swift delivery through our state-of-the-art operations ecosystem. Our unique digital approach sets us apart, making etaily the architect of digital brands and retail. Today, people in the region buying something online from the leading digital first brands such as Crocs, Levi’s, Skechers, Fila and many others, all of it is being powered by etaily’s infrastructure.”
SKS Capital founder Jack Chen commented: “We are excited to participate in the exciting consumer transformation taking place in the Philippines and SEA. We are dedicated to collaborating with outstanding and promising organisations that are poised for growth. etaily’s asset-light strategy, along with their extensive knowledge of eCommerce, supply chain, and their utilisation of data-driven insights to understand consumer behaviour and demand, offer significant prospects for incorporating advanced omnichannel technology solutions into brand operations. This will enable substantial growth in the near future. Our brand portfolio is ready to be distributed by etaily”