🇵🇭 ecommerce enabler banks $4.3m in seed extension

Philippine-based ecommerce enabler Etaily has added US$4.3 million in seed funding in an extension round led by JG Digital Equity Ventures, the investment arm of local conglomerate Gokongwei Group.

With its earlier US$1.6 million in seed funding, this puts the startup’s total raise to US$5.9 million.

(Clockwise starting from the lower middle) Etaily executives Alexander Friedhoff, co-founder and CEO; Tatiana Cziomer, COO; Ruben Stappers, CFO; and Toti Wong, chief commercial officer / Photo credit: Etaily

Etaily, which was founded by CEO Alexander Friedhoff in 2020, addresses the ecommerce needs of brands by providing content production, channel creation, and warehousing and fulfillment services. Some of its clients include Landmark, Toshiba, and Terranova.

The fresh funds will go toward its regional expansion efforts and the development of solutions such as offline-to-online cloud software for sales integration.

The Philippines’ ecommerce market is expected to hit US$12 billion in value by 2025.

See also: Series SEA: Who’s investing in the region’s ecommerce startups?

Other investors in this round include:

• Century Pacific Group
• Landmark Department Store
• Abenson
• Gobi-Core PH Fund
• Carro chief strategy officer Kenji Narushima
• Ayala Ventures
• Foxmont Capital