The Singapore based ecommerce enabler digitised over 20,000 Singapore businesses with 150% GMV growth over the previous quarter
SINGAPORE - Media OutReach - 12 October 2020 - Shopmatic, leading international e-commerce enabler has registered revenues of over S$5.5M in the first half of 2020 exceeding its targets by 190%. Riding on an upward trajectory with its tech-enabled solutions for the countries' SME and entrepreneur sectors, Shopmatic achieved a positive EBITDA of 30% - a year earlier than originally projected.
The Company has also witnessed a 150% growth from its Singapore customers over the previous quarter in transactions and GMV, a testament to the digital wave which has been accelerated due to the effects of COVID-19.
On the back of its customer-centric initiatives, cost-effective services and feature-intensive portfolio, Shopmatic ended the first quarter with 200% growth in transactions, revenue, and GMV.
In April 2020, when the initial faltering of the economy was felt due to the pandemic, Shopmatic focused its efforts on providing managed solutions through one of its locally acquired companies- CombineSell Pte Ltd. This move was to help move Singapore's SMEs offline to online by providing them an opportunity to outsource their digital team. During the last 6 months, Shopmatic as a group has enabled over 6000 Singaporean businesses to digitise and generate significant customer revenues by helping businesses sell through marketplaces, social media commerce and their webstores.
Shopmatic has also expanded its Singapore team basing its strategy around hiring great local talent, training them and giving them an opportunity to contribute to the success path of a multinational ecommerce leader that is currently experiencing high-growth.
Speaking on the development, Mr. Anurag Avula, CEO, Shopmatic, said, "We have been especially proud that we were able to build our organisation in Singapore to help local businesses as well as exporting our technology and industry know-hows to other markets yet to experience the same growth in the eCommerce sector. We are delighted to witness the success of thousands of aspiring entrepreneurs that use the Shopmatic platform with the desire to succeed in the digital realm. I would like to acknowledge our critical constituents - our customers, partners & colleagues who have been a part of this wonderfully purpose driven journey."
As an e-commerce solutions provider, Shopmatic brings several elements of the e-commerce landscape onto a single platform to help SMEs and individual entrepreneurs take their businesses online. From creating a customized online store, selling through social & chat commerce, selling on multiple marketplaces with integrated global payment options and shipping solutions, creating & promoting digital advertising Shopmatic makes it easy for anyone to sell online.
What started as a 3 member founding team, has now grown to a 120 member global team operating in India, Singapore, Malaysia, Hong Kong and other markets. The Company continues to drive innovation in ecommerce and promises to announce more offerings on its platform in the near future.
12 October 2020
