Jofie Yordan · · 1 min readJet Commerce banks $60m in series B, eyes Singapore entry
Jet Commerce, a China-based ecommerce enabler, has raised US$60 million in a series B round led by Jinqiu Capital, Hidden Capital, and Zhejiang SilkRoad Fund.
ATM Capital, which previously led Jet Commerce’s series A fundraise, is participating in this round as well, along with Hui Capital and other investors.
Jet Commerce Group founder and CEO Oliver Yang / Photo credit: Jet Commerce
Founded in 2017 in Indonesia, Jet Commerce has since expanded to Thailand, Vietnam, China, Malaysia, and the Philippines. To strengthen its regional business, the company formed Jet Commerce Group and established its headquarters in Hangzhou, China, in 2020.
The firm has over 1,000 employees. Several brands have already partnered regionally with Jet Commerce, such as Oppo, Unicharm, DJI, Nivea, Shiseido, and Foreo.
In a statement, Jet Commerce founder and CEO Oliver Yang said the new funds will be used to hire more local talent, strengthen its ecosystem, improve digital management and R&D of SaaS systems, and improve its professional brand incubation ability. It is also currently preparing for expansion to Brazil and Singapore.
See also: The key ecommerce logistics players and enablers in Southeast Asia
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
