iprice-raises-funding

Here are today’s top ecommerce stories.

1. Malaysia’s iPrice grew 6x, raises $4m from investors

Malaysia-headquartered iPrice, which aggregates over 50 million SKUs of products from various shopping sites in one location, saw its site visits in November grow six times compared to the same month in the previous year. Investors seem impressed. They’re putting in another US$4 million in a series A round of funding, led by Asia Venture Group and Venturra.

The company makes money through referral fees, so the more sales it drives to ecommerce sites like Lazada, the more money it makes.

Read the rest of the story here

 

2. Banks are now muscling into mobile payments in Singapore

Mobile payments are surging in Southeast Asia. According to a study by McKinsey, digital banking users in the region have doubled between 2011 and 2014. n countries like Indonesia and Thailand, which have a large unbanked population, telcos lead the way with apps like Mandiri E-cash and TOT Just Pay. In Singapore, banks are moving fast.

They may be late to the payments game, compared to some startups. However, they should not be ignored, due to large user bases, stable security systems and their global reach.

Read the rest of the story here.

 

3. Online Korean beauty retailer Memebox raises $60M more to sharpen its focus on the U.S.

Memebox, a Y Combinator startup that sells Korean beauty products in the U.S. and Asia, has raised $60 million. The cash is an extension of the firm’s Series C round which initially closed at $65.95 million in August.

The company said the money will go towards continuing its operations and increasing its global footprint.

Read the rest of the story here.


Korean cosmetics are getting a lot of traction in the startup industry. Read our exclusive insights on Althea here.

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