Kul Bhushan · · 1 min readTiger Global leads $8m round of HK social commerce firm
SleekFlow, a Hong Kong-based social commerce platform, has raised US$8 million in a series A funding round led by Tiger Global. Transcend Capital and AEF Greater Bay Area Fund also joined the round.
Team SleekFlow / Photo credit: SleekFlow
SleekFlow plans to use the fresh capital for product development and expanding its presence in Southeast Asia.
Founded in 2019 by ex-Ernst & Young consultant Henson Tsai, SleekFlow aims to streamline communications for firms. It serves more than 5,000 businesses, including brands like Nars Cosmetics, Bossini, Lalamove Hong Kong, and PSB Academy.
The company also offers fintech solutions such as a social-to-payment, which allows businesses to create payment links and receive payments in a chat.
The Hong Kong-headquartered firm has launched a campaign automation solution for Instagram’s Shops, TikTok, and other platforms to tap into the social commerce market. The segment is expected to be worth US$3.37 trillion globally by 2028, according to a study conducted by Grand View Research.
See also: Indonesia’s social commerce startups double down on rural FMCG space
SleekFlow has a team of 60 members across the UK, Taiwan, Malaysia, Hong Kong, and Singapore. The company said its valuation has climbed 1200% in the last 12 months, while its revenue has jumped 500% since its pre-series A capital raise from Alibaba Hong Kong Entrepreneur’s Fund last year.
Editing by Deepti Sri and Arpit Nayak
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