fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Enterprise & SaaS

Singapore e-commerce site builder Plugo raises $9m in Series A

Team AsiaTechDaily by Team AsiaTechDaily
15 December 2022
in Enterprise & SaaS, Featured
0
Plugo
16
SHARES
Share on FacebookShare on Twitter
Bookmark (0)

Please login to bookmark

No account yet? Register

Singapore-headquartered e-commerce site builder Plugo announced that it raised $9 million in Series A funding ahead of its planned public launch in 2023.

The round was led by Altos Ventures, along with strong support from BonAngels Venture Partners, Access Ventures, Mahanusa Capital, Prodigy Investment, and Pearl Abyss Capital.

Plugo’s intuitive design feature enables users to launch their customized online store websites in minutes, with no technical knowledge required.

Proceeds from this round will be used for future product developments and hiring across new divisions as Plugo expands operations.

Led by Kyungmin Bang, Founder and CEO, Plugo empowers anyone who wants to start an online business. The platform gives its users greater control, a stronger brand identity, and more scalable pricing over their businesses.

“We are thrilled to announce this fresh funding round, which demonstrates investors’ confidence in our business,” said Kyungmin.

Indonesia’s e-commerce landscape was one of the world’s fastest-growing markets, even during the pandemic-induced economic downturn. Its digital economy is worth approximately $77 billion this year, according to a report by Google, Temasek, and Bain & Company. The sector, driven primarily by e-commerce, is on track to become a $130 billion digital market by 2025.

“Not only is it a huge and significant number, but there are endless opportunities. Moreover, local businesses have accelerated their adoption of digital technology due to innovation in the e-commerce ecosystem and dynamic changes in consumer behavior,” Kyungmin added.

For years, the e-commerce ecosystem was such that establishing stores was challenging, and selling was even more so. These factors created an environment where size, experience, and the need for deep pockets discouraged the majority of new merchants.

In addition, existing merchants are concerned about their ability to build a brand for their business in the long run. This is more important than ever in today’s highly saturated market, where new businesses are popping up just about anywhere.

“Our platform is designed to remove those hurdles—we want to democratize e-commerce and make it easier for our merchants to reach for independence,” said Kyungmin.

Tags: Plugo
Previous Post

Rewards platform ShopBack bags $30m from Westpac to close Series F

Next Post

Ficus Capital invests $400K in intuitive single-platform tool Assemblr

Related Posts

edit post
ShopUp
E-commerce

ShopUp, Bangladesh’s B2B commerce platform, secures $30m in debt financing

February 2, 2023
edit post
WeMo
Featured

Urban mobility startup WeMo raises $15m from AppWorks to boost SE Asia expansion

February 1, 2023
edit post
Peris.ai
Cybersecurity

Indonesian cybersecurity startup Peris.ai scores funding to enhance platform

February 1, 2023
edit post
Qritive
Featured

Healthcare AI startup Qritive nets $7.5m to expand into new markets

January 31, 2023
edit post
Sea Ltd Shopee
E-commerce

Sea to create 2,000 jobs in Malaysia in expansion push

January 31, 2023
edit post
Kick Avenue
E-commerce

Indonesian sneaker marketplace Kick Avenue raises $2.9m funding

January 31, 2023
Next Post
edit post
Assemblr

Ficus Capital invests $400K in intuitive single-platform tool Assemblr

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2023 AsiaTechDaily.com| About Us | Seed accelerator| Terms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback