Former Uber, Deliveroo execs launch HK wholesale platform

Markato’s founding team / Photo credit: Markato

Markato, an online wholesale marketplace for independent retailers and buyers, has announced its official launch, starting with its operations in Hong Kong.

The company, which was founded in 2023 by former Deliveroo and Uber executives, plans to expand to other Asian markets in the next year.

Powering these goals is Markato’s US$5 million seed round raised in the second quarter of this year from investors like Lightspeed. This was the first investment Lightspeed made in a Hong Kong startup.

Funding details

• Funding amount: US$5 million
• Lead investors: Lightspeed
• Stage: Seed
• Source

Markato offers a digital platform that streamlines the B2B wholesale process by providing a curated selection of over 4,000 products from more than 200 brands, mainly from Europe, Australia, and the US. The startup expects to grow its network to over 2,000 buyers and 2,000 brands in the next few months.

The firm also said it has cross-border payments and international shipping services integrated on its platform, removing reliance on third-party providers.

The company aims to hire more engineering, product, and business development talent to enhance its tech, optimize its logistics infrastructure, and develop more data-driven product and service offerings.

More details