Singapore’s first and largest global shopping platform, ezbuy, announced on Thursday (May 24) that it has successfully raised $17.6 million (S$23.6 million) in Pre-Series C funding.
The injection of cash will primarily be allocated to offer quick and more reliable modes of localised services to customers.
A key component will also be used to enhance product offerings to customers and to help ezbuy’s expansion plans in the region as well as outside Southeast Asia.
The round of funding was co-led by several venture capitalist firms in the region, including IDG, Ventech, Sky9, VKC and CGC.
ezbuy is one of the pioneers of e-commerce platforms in Singapore and was established here in 2010.
Its co-founder and CEO, He Jian, said: “The Pre-Series C funding cements ezbuy’s position as the leading e-commerce platform in Asia”.
“Our core mission since the start has always been to provide customers with the convenient access to shop for their favourite products from all over the world. The investment will enable us to continue strengthening our core verticals and pave the way to achieve this objective faster.”
ezbuy made headlines in late 2017 when it was involved in a war of words with Taobao’s parent, the Alibaba group.