Thailand-based aCommerce, an e-commerce enabler that helps global clients sell their products in the Southeast Asian markets, has raised US$15 million from Indies Capital Partners.
This round comes almost six months after it secured a US$10 million round from existing shareholders including KKR & Co. in July 2019.
The new funds will be used to drive ‘aCommerce 2.0’, which, according to the company, is an initiative to deliver greater value to enterprise brand client. “We are now fully-funded to continue executing on our ‘2.0 strategy’ to reach group profitability and become cash-flow positive in 2020,” said Paul Srivorakul, Co-founder of aCommerce.
A portion of the capital will also be used to better support the company’s already existing global clients (such as Samsung, Unilever, Nestlé, L’Oréal, Philips, Adidas, and Mars), recruit, and develop a better workforce, focus on core markets and achieve profitability.
aCommerce has also revealed its plans to launch an IPO, says a TechInAsia report.
Founded in June 2013, aCommerce focusses on providing e-commerce technologies and solutions. Its services include performance marketing, channel management, webstore design and operations, content production, order fulfilment and warehousing, delivery and logistics and localised customer care.
Also Read: eCommerce: Revitalising conventional forms of trade in Malaysia
Indes Capital is an asset manager focusing on private credit and equity in Southeast Asia and has invested more than US$1 billion across multiple strategies on behalf of institutional and private investors.
“We appreciate that aCommerce is putting itself ahead of the curve in terms of driving its business to cash flow generation, and only pursuing economically sustainable growth. It is a rare combination of a technology company of scale in Southeast Asia on the path to profitability, whilst still exhibiting strong growth prospects,” said Harold Ong, Managing Director of Indies Capital Partners.
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Image Credit: aCommerce
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