Ex-Lazada exec’s ecommerce services startup lands $11m in series B money

Intrepid Group, a Singapore-based ecommerce service provider, announced it has raised US$11 million in its latest round of funding.

More funding details

• Lead investor: Mirabaud Asset Management
• Other investors: Vulpes Investment Management and Thakral Corporation, among others
• Stage: Series B

More company updates

• The fresh funds will be invested in Intrepid’s technology suite to continue fueling the growth of its clients’ businesses across Southeast Asia.
• The company said it has hit profitability in two of its markets, though it did not specify them. It’s also on track for regional profitability.
• Intrepid helps brands optimize their ecommerce presence. It helps businesses use technologies like AI for automation, run digital marketing campaigns, and refine their strategy through its data services.
• Currently, Intrepid has a team of over 250 employees including industry specialists in ecommerce, marketing, and technology across its offices in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
• The startup has also partnered with over 60 international brands to expand their omnichannel ecommerce businesses in Southeast Asia.
• In August 2020, Intrepid raised an undisclosed amount in its pre-series B funding round led by Thakral Corporation and Sun SEA Capital, an existing investor backed by Sunway Group.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.

Correction (June 18, 5:24 pm): The article was corrected as the company has shifted its focus from small and medium-sized enterprises to larger brands.