Indonesian startup Hypefast bags $19.5 million in a Series A funding round led by Monk’s Hills Ventures, joined by Strive Arkblu Capital, Jungle Ventures, and Amand Ventures.
Hypefast will be using the fresh funding to support its brand growth as it plans to expand in the region. The startup will also look at expanding its team.
The ecommerce roll-up startup said that it has grown its portfolio to over 25 brands, and claims to be Southeast Asia’s largest house of ecommerce brands.
“We think the explosion of ecommerce or digital native brands in Southeast Asia right now is just the beginning”, said founder and CEO, Achmad Alkatari. He added, “We will see more in the near future, especially stimulated by higher ecommerce penetration here and easier access to supply and manufacturing.”
Hypefast was founded in 2020 by Achmad Alkatari a former Lazada and Shopee marketer. Hypefast is in the business of acquiring digital-native beauty, fashion, health, and lifestyle brands across Singapore, Indonesia, Thailand, and Malaysia and developing them for a global market.
Hypefast has been profitable since the start of the year. The startup’s chosen brands get a capital investment of up to US$10 million. It’s funding recipients include natural products line Bonnels and sportswear Noore Sport Hijab. Indonesia-based kids and baby brand is one of the latest acquisitions for the startup.
“These brands already have access to cost-efficient manufacturers and a substantial market with strong e-commerce penetration,” said Alkatiri, noting these firms founders understand their locale better than global counterparts “in terms of style, size, fit, aesthetics, and price point.”
Hypefast had raised $13.99 million in July in a funding round led by Singapore-based VC firm Monk Hill Ventures. With the latest funding the startup’s valuation has soared to $103.69 million.
The startup competes with Una Brands and Rainforest who also acquire ecommerce brands that sell products on Lazada, Amazon, and Shopee.
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