Aditya Hadi Pratama · · 1 min readAyala’s VC arm leads $7.5m round of SG procurement firm
Eezee, a Singapore-based B2B marketplace for industrial hardware and supplies, has raised US$7.5 million in a series A funding round led by Ayala Corporation Technology Innovation Venture Fund, which is backed by Philippine conglomerate Ayala.
Eezee’s management team (from left) chief operating officers Shawn Seet, VP of launch Julian Siew, chief executive officer Logan Tan, product manager Terrence Goh, and chief technology officer Jasper Yap / Photo credit: Eezee
Founded in 2018, Eezee provides a digital platform that helps businesses procure machinery, construction, and medical supplies, among others. Currently, its platform carries over 130,000 items from 2,000 suppliers. The platform is used by more than 400 companies, including ExxonMobil, Shell, Zuellig Pharma, and Resorts World Sentosa.
In a statement, the company said that its gross merchandise value jumped 5x in 2021 compared to the previous year.
Eezee was established by Logan Tan, a former business development manager at DBS Bank, along with Jasper Yap, Julian Siew, and Terrence Goh. It currently has 60 employees.
The firm plans to use the fresh funding to expand its operations to Indonesia, Malaysia, and the Philippines next year, as well as double its employees.
See also: These are the most active investors in Singapore’s startups
Other investors in the funding round include:
- Insignia Ventures Partners
- Wavemaker Partners
- January Capital
- HH Investments
- Orange Venture Fund
Editing by Miguel Cordon and Lorenzo Kyle Subido
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