SG ecommerce roll-up firm Una Brands lays off less than 10% of staff

Singapore-based Una Brands, an ecommerce roll-up firm, has laid off less than 10% of its workforce, as some of its positions have become redundant.

However, Una Brands co-founder and CEO Kiren Tanna told Tech in Asia that the company will continue hiring for its Southeast Asia and India units. In Southeast Asia, the company has seen a “negligible” impact from the macro environment due to a “strong” growth from brands, especially those on the Shopee and Lazada marketplaces.

News of Una Brands’ layoffs was first reported by The Sydney Morning Herald.

Photo credit: Una Brands

Una Brands expects to hit EBITDA (earnings before interest, taxes, depreciation, and amortization) breakeven in Q4 2022 and is “well-positioned” to thrive in the current macro environment, Tanna said.

Currently, the company is looking to raise a new round of funding. The firm recently closed an additional round after bagging US$15 million in series A money in a November 2021 fundraise led by White Star Capital and Alpha JWC.

“The liquidity position of the company is strong, and our investors are very supportive of the business,” Tanna added.

See also: India’s young roll-ups may be in for a wake-up call

Una Brands acquires ecommerce shops based in the Asia-Pacific region and uses tech to optimize and automate company identification, product placement, and marketing across a broad range of distribution channels. Since its launch in 2021, it has acquired over 20 firms, with the earliest brands seeing increases in their sales and profits of over 50%.