In the rapidly expanding landscape of Southeast Asian e-commerce, a potent player is making waves. Philippines-based e-commerce platform enabler, etaily, is poised to capitalize on the burgeoning market set to hit $230 billion in gross merchandise value by 2026. A testament to its potential, etaily has successfully raised a substantial $17.8 million in a Series A funding round.
Leading the charge in this funding endeavor is the esteemed Chinese and Taiwanese private equity firm SKS Capital, co-piloted by Singapore's Pavilion Capital. Joining the journey are significant backers, including the Japanese SBI ICCP Fund, Kaya Founders, the Magsaysay Family, Chan family, Foxmont Capital, and JGDEV, the corporate venture capital arm of JG Summit Holdings. Notably, etaily's cap-table features industry stalwarts like Ayala Corporation, the Cheng family of Landmark, and angel investors such as Paulo Campos and Anthony Oundijan.
With the freshly infused capital, etaily is set to fortify its foothold in Southeast Asia. The strategic plan involves optimizing its distribution platform for brands, broadening its brand portfolio, and delving into the development of proprietary technology, including its operating system, data analytics, and AI platform, etaily clarity.
Founded in 2020 by Alexander Friedhoff, a former member of the Zalora team, etaily aims to empower global consumer brands venturing into online sales. Propelled by a unique operating system for end-to-end commerce technology, etaily provides comprehensive distribution solutions for global consumer brands, leveraging an asset-light warehouse network.
Having served over 50 global consumer brands and processed 10 million orders, etaily has experienced exponential growth. Gross sales for 2023 have tripled, marching confidently toward the $100 million mark in the coming years. The exclusive brand portfolio includes heavyweights like Levi’s, Croc’s, Sketchers, and Dyson.
Commenting on the milestone, Alexander Friedhoff, Founder & CEO of etaily, emphasized their distinctive digital approach, positioning etaily as the architect of digital brands and retail. He highlighted how the region's online purchases from leading digital-first brands are powered by etaily's robust infrastructure.
Jack Chen, Founder of SKS Capital, expressed excitement about contributing to the consumer transformation in the Philippines and Southeast Asia. He commended etaily's asset-light strategy, supply chain prowess, and data-driven insights, foreseeing substantial growth through advanced omnichannel technology solutions.
In this fusion of funding prowess and e-commerce dynamism, etaily stands as a beacon in Southeast Asia's thriving digital commerce realm, poised for a transformative journey ahead.