Surpassing Q1 revenue projections, Shopmatic acquires 120K customers, and now targets $30Mn Series B fundraise

Aggressively onboarding new sellers following the launch of its disruptive offer, Shopmatic is poised to bring half a million merchants online this year

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SINGAPORE - Media OutReach - 4 July 2019 - Driven to enable the online success of
businesses and remove the silos in offline and online markets for aspiring
entrepreneurs and small businesses, the international e-commerce company,
Shopmatic announced closing 120,000+ customers. Shopmatic has achieved the
milestone in less than three months, within the April-June quarter, also
successfully clocking in a whopping 174% revenue growth & 160% transaction
growth over the previous quarter. Beating the projections, Shopmatic is poised
to bring half a million merchants online before the end of this year. Riding on
the back of tremendous growth figures, Shopmatic will now also be pursuing
fundraise worth 30 million in the Series B Round.

 

Shopmatic has pivoted its exponential growth on a
disruptive offer launched prior to the beginning of this quarter. In a move
meant at transforming India’s e-commerce landscape, Shopmatic made its powerful
e-commerce platform available for SMEs and aspiring entrepreneurs at only Rs.
50 for 1 year. The offer, furthermore, aligned the pricing model with the
online success of customers, charging only 3% as transaction fees following a
successful sale.

 

The disruption brought by Shopmatic has successfully
removed the roadblock of high anticipated capital expense and uncertainty
regarding the success of the online business. In addition, it inspired more
businesses and talented individuals to explore the world of online selling, as
reflected in the manifold increase in Shopmatic’s user-base at present.

 

Commenting on the milestone, Anurag Avula, Co-Founder
& CEO, Shopmatic, said “This is a milestone for Shopmatic towards its
vision of removing the roadblocks faced by aspiring entrepreneurs, talented
individuals, and SMEs in accessing the world of opportunities offered by the
e-commerce sector. Subsequent to the launch of our disruptive offer, we have
successfully closed 120,000+ customers and our revenues have grown by 174% over
the last quarter. More importantly, this exponential growth is a testament to
the predominant need in the market for the solutions offered by Shopmatic. We
shall continue to disrupt the status quo with our customer-first approach and
are looking to raise 30 million for venturing into newer markets while
strengthening our foothold in the national and international markets where we
are currently present. Going by the current trends, we are on the right track
to bring more than half a million merchants online by the end of this year.”

 

Shopmatic continues to invest in new capabilities and
support its customers throughout their e-commerce journeys. Following its
merger with POS & retail management solution provider, Octopus, Shopmatic
now offers an omnichannel approach to its customers for growing both their
online and offline businesses. Empowered by the tremendous success, Shopmatic
is set to raise funds worth 30 million, to expand its business and enable the
online success of aspiring entrepreneurs, hobbyists, craftsperson, and small
merchants. The Company recently concluded a Series A raise of 10.1 Ml SGD.

About Shopmatic: NEW

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 partnership with 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 since its inception, raised
20ml SGD.

 

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