Buyandship extends series B round with $6m raise

(From left) Altara Venture associate Shane Chen, L2 Capital partner Kevin Lai, Buyandship CEO Sheldon Li, and Altara Venture general partner Dave Ng / Photo credit: Buyandship

Hong Kong-based Buyandship recently raised US$6 million in additional series B funding in a round led by Altara Ventures. KSK Angels, AVA Angels, and VU Venture Partners also invested.

This comes after Buyandship secured US$10 million from Cool Japan Fund in September 2023. The ecommerce firm has raised a total of US$16 million in series B capital to date.

Established in 2014, Buyandship operates a cross-border ecommerce logistics platform, allowing customers from 12 countries to shop from various marketplaces globally. These include Japan, Korea, Australia, Italy, Canada, the US, and the UK.

After its initial series B funding, Buyandship ventured into Vietnam and launched a virtual personal shopping assistant and recommendation system. The AI-based tool is available on Buyaholic, the company’s social network featuring user-generated content.

Buyandship also said that in 2023, its peak season customer sign-ups logged a 93% annual increase. The company has over 2 million registered users and over 12 million transactions to date, powered by its 11 overseas warehouses.

The company plans to improve the product search and customer purchase experience on its platform, automate operations, and expand to new markets in Southeast Asia.

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