Shopmatic, a Singapore based International e-commerce company, announced in October 2019 its acquisition of CombineSell, a Software as a Service (SaaS) platform that automates & simplifies multichannel e-commerce selling by aggregating popular online marketplaces into a single platform.
Anurag Avula, Co-Founder & CEO, Shopmatic, stated that this acquisition helps its merchants access numerous sales channels in various countries across South East Asia, promising their overall growth and success. The acquisition is in line with the company’s efforts to digitalize SMBs & Individual Entrepreneurs in APAC.
This move also follows Shopmatic’s strategy of consolidating its position in a fragmented e-commerce enabling software sector. The Singapore-based e-commerce enabler had previously acquired a 50.1% stake in retail management and POS solution provider Octopus. With this current acquisition, Shopmatic’s merchants will now be able to sell via multiple channels while managing their online business through a single dashboard. These include Lazada, Shopee, Qoo10, Amazon, eBay, Carousell and Redmart.
Loh June Yong, Founder & CEO, CombineSell, added that their services address the many challenges that growing an online business entails, and reasserted the company’s role as an e-commerce platform for small business and individual entrepreneurs.
“We are excited to join forces with Shopmatic and together enable the online success of businesses, in the emerging markets,” he said.
This collaboration was facilitated by SEEDS Capital, the investment arm of Enterprise Singapore, who has been an early investor of Shopmatic. Geoffrey Yeo, General Manager, SEEDS Capital, believes that this is a positive step for both companies, as well as the users who benefit from the increased integration of the e-commerce channels.