Miguel Cordon · · 1 min readSocial commerce firm to expand into SEA with 7-digit raise
US-based Elloe, a social ecommerce startup focused on Kenya and emerging markets, said it has closed a seven-figure US dollar pre-seed round to fuel its Southeast Asian expansion.
Elloe co-founder Owen Sakawa / Photo credit: Elloe
According to a statement, the round was led by the Philippines’ Mad Ventures, but other investors were kept unnamed. The startup also said its raise exceeded its set US$1 million funding target.
Elloe is an AI-backed platform that allows merchants to buy and sell products online across any messaging service, including Facebook Messenger, WhatsApp, and Instagram. The company helps boost sales by simplifying operations, logistics, payments, and marketing through its centralized merchant portal.
The startup said it will use the funds to enter Southeast Asian markets – with the Philippines being a priority – through 2023 and beyond. It also plans to grow its operations in Kenya.
Elloe was founded by Owen Sakawa, Abhijay Rao, and Aaron Madolora – who also serves as the founder and group CEO of Mad Ventures.
See also: Exclusive: Webuy acquires Indonesian social commerce rival, starts offering travel deals
Editing by Deepti Sri and Lorenzo Kyle Subido
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