Buyandship, a global cross-border e-commerce enabler based in Hong Kong, has extended its Series B round, securing an additional US$6 million led by Altara Ventures.
KSK Angels (founded by Keisuke Honda), AVA Angels, and Venture University also participated.
With the fresh funds, Buyandship plans to enhance its AI-enabled price comparison function, improve the user journey in product search and purchase, expand into new Southeast Asian markets, and further automate operations.
Founded in 2014, Buyandship is a leading global cross-border e-commerce enabler, empowering consumers to purchase products worldwide through big data, global price comparison, social commerce, and logistics technologies.
Dave Ng, General Partner at Altara Ventures, commented, “The online shopping world is becoming flat. It is easy to discover and browse products, however, completing purchases through the last mile is still a challenge. Buyandship is solving the pain point of allowing anyone to buy online globally and have products shipped to their doorsteps. We are excited to partner with Buyandship in the next phase of their journey.”
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The company has expanded its presence to 12 countries and regions, operating 11 overseas warehouses. It claims to have over two million registered users and over 12 million transactions to date.
In September 2023, Buyandship raised US$10 million in Series B initial funding from Cool Japan Fund. This brings the total amount raised in the Series B round to US$16 million.
Since receiving initial Series B funding, Buyandship has entered the Vietnam market, launched an automated virtual personal shopping assistant enabling 39X-faster shopping, and integrated an AI-powered recommendation system into its social network, Buyaholic, allowing users to browse and purchase popular products with one click.
Sheldon Li, Co-Founder and CEO of Buyandship said, “The oversubscribed financing round is an affirmation of Buyandship’s belief in offering consumers the easiest experience to purchase products globally at the most competitive pricing.”
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Image credit: Buyandship
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