Ecommerce enabler Etaily raises $17.8m to expand in SEA

Etaily founder and CEO Alexander Friedhoff / Photo credit: Etaily

While Indonesia has the largest number of digital consumers in Southeast Asia, the Philippines is rising quickly, with a yearly increase of six million digital consumers in 2022. This year, the Philippines is also recognized as the fastest-growing developing economy within East Asia and the Pacific.

To capture these opportunities, Philippine-based ecommerce enabler Etaily is focusing on its operations in the country and the region.

Today, Etaily – which has processed more than 10 million orders across platforms like Lazada, Tokopedia, Tiki, and Shopee – has raised US$17.8 million in a new funding round. The raise brings its total investments to US$23.7 million, according to Tech in Asia data.

Etaily plans to use the new capital to strengthen its footprint in Southeast Asia, improve its distribution platform for brands, broaden its brand portfolio, and advance its proprietary tech.

Funding details

• Funding amount: US$17.8 million
• Lead investors: Pavilion Capital, SKS Capital
• Other investors: SBI ICCP Fund, Kaya Founders, Magsaysay Family, Chan Family, Foxmont Capital Partners, JG Digital Equity Ventures
• Stage: Series A

Founded in 2020, Etaily offers brands a host of products, including brand-building services, customer relationship management, and marketplace management. It currently serves more than 50 global consumer brands, including Levi’s and Sketchers.

The company said its gross sales have tripled this year and are on track to reach US$100 million in a few years.

“Given the current trajectory, with ecommerce as a percentage of total sales surging, Southeast Asia may well be poised to become the ‘next China’ in terms of ecommerce growth potential,” said Etaily founder and CEO Alexander Friedhoff in a statement.

In 2021, the company received US$1.6 million in seed funding and later rounded it up to a total of US$5.9 million.

See also: Indonesia’s ecommerce map reveals sector slowdown, company struggles

More details