Shopmatic acquires CombineSell to consolidate its leadership position in the e-commerce space

SINGAPORE – Media OutReach – 14
October 2019 – International e-commerce company, Shopmatic has
acquired 100% of CombineSell, a Software as a Service (SaaS) platform that
automates & simplifies multichannel e-commerce selling by aggregating
popular online marketplaces into just a single platform.

 

The acquisition follows Shopmatic’s
strategy of consolidating its position in a fragmented e-commerce enabling
software sector. The Singapore-based e-commerce enabler had previously acquired
a 50.1% stake in retail management and POS solution provider Octopus, to unlock
the omnichannel growth strategy for its merchants. Now, Shopmatic has brought
Singapore’s top-ranking multichannel e-commerce solution provider, CombineSell,
to further its value proposition to their customers.

 

CombineSell leverages innovative
technology to enable merchants to sell on multichannel e-commerce platforms,
and drive campaigns for business growth. With this acquisition, Shopmatic’s
merchants will now be able to leverage the power of selling on multiple
channels while managing their online business through a single dashboard. CombineSell has 30+ ecommerce channel integrations available –
including those with Lazada, Shopee, Qoo10, Amazon, eBay, Carousell, Redmart,
Xero, etc, from a single, centralised platform and has generated over $150M of
GMV in the last 12 months. CombineSell was co-founded by June Yong, Amanda Ho
& Gerald Lam and has over 30+ people based across Singapore & Malaysia.

 

Commenting on the
acquisition, Anurag Avula, Co-Founder & CEO, Shopmatic, said,
“In our continued bid to drive digital success for our merchants,
we have been growing our suite of services on the platform, and are very happy
with the acquisition of CombineSell.  This gives us a significant
advantage in enabling the overall growth & success of all merchants on our
platform. In just a single click, merchants will now have access to selling
across numerous channels in various countries across South East Asia. The
acquisition of CombineSell further consolidates our position as clear market
leaders in digitizing SMBs & Individual Entrepreneurs in APAC.“

 

Loh
June Yong, Founder & CEO, CombineSell added, “At CombineSell, we understand that growing
an online business can be rife with challenges. To the same end, we have been
making it easier for sellers on our platform to grow and manage their business
across multiple marketplaces. Shopmatic has cemented its position as a
powerhouse e-commerce platform for small businesses and individual
entrepreneurs. Following the latest development, we are excited to join forces
with Shopmatic and together enable the online success of businesses, in the
emerging markets.“

 

SEEDS
Capital, the investment arm of Enterprise Singapore, has been an early investor
of Shopmatic. On the acquisition, Geoffrey Yeo, General Manager, SEEDS
Capital, said, “Having invested in Shopmatic earlier on, both
SEEDS Capital and Enterprise Singapore have been working closely with Shopmatic
on its expansion plans in Asia, especially to markets such as India and
Southeast Asia where the e-commerce needs are growing rapidly. SEEDS Capital is
pleased to have connected Shopmatic with CombineSell, which led to this win-win
collaboration for both companies. The acquisition will allow Shopmatic to grow
its e-commerce capabilities, and further augment the integration of its
e-commerce channels to better serve its customers.”

 

Shopmatic continues to
create industry disruptions with features, offers and pricing, focused on
enabling the success of sellers on its platform. With over 250,000 merchants on
its platform, Shopmatic has been setting the trend for enabling sellers to be
successful digitally.

 

Shopmatic’s
customer-first approach has unlocked tremendous growth figures. Following the
launch of its disruptive transaction pricing model, Shopmatic clocked a 174%
QoQ revenue growth and a 160% hike in transactions on its platforms within the
April-June quarter. Empowered by a fervent response from small businesses and
aspiring entrepreneurs on its platform, Shopmatic is geared up to bring half a
million merchants online in the current financial year.

About Shopmatic

Founded in December 2014, Shopmatic has been driving
game-changing strategies in the ecommerce space and has engineered itself to stay focused on helping its customers succeed.

With its recent acquisition of Octopus, Shopmatic is
driving an omnichannel play for individual entrepreneurs and businesses in emerging markets, by enabling the entire ecommerce-&-retail-management ecosystems for them to succeed.

From a domain name to easy integrations with domestic
and international payment gateways and shipping partners, to getting discovered via a unique, curated platform- Shopmatic World to POS, Inventory Management and CRM solutions, Shopmatic helps business owners manage the full spectrum of what is required to grow
their business.

Shopmatic is headquartered in Singapore with a presence
in India, Hong Kong, China, Malaysia, Philippines and UAE. The company is quickly expanding to the rest of South-East Asia, this year.

Shopmatic has raised 20 M SGD from its incorporation
till date with August One, SEEDS Capital and a consortium of investors.

For more information, please visit www.goshopmatic.com
or contact media@goshopmatic.com