etaily, a Philippine-based e-commerce platform enabler, has successfully secured $17.8 million in Series A funding, poised to further revolutionize the Southeast Asian e-commerce market. With the e-commerce landscape in the region expected to surge to $230 billion by 2026, etaily stands as a key player facilitating global brands in tapping into this burgeoning opportunity. The funding round, led by SKS Capital from China and Taiwan, alongside co-leads Pavilion Capital from Singapore, Japanese SBI ICCP Fund, and Kaya Founders, demonstrates the industry’s confidence in etaily’s potential. Key participants in the funding include the Magsaysay Family, Chan Family, Foxmont Capital, and JGDEV, the corporate venture capital arm of JG Summit Holdings.
etaily, founded in 2020 by Alexander Friedhoff, a former Zalora team member, is strategically positioned to capitalize on the rising demand for comprehensive e-commerce solutions. The company aims to utilize the freshly acquired capital to strengthen its presence in Southeast Asia, bolster its distribution platform for brands, expand its brand portfolio, and invest in proprietary technology, including its operating system, data analytics, and AI platform named etaily clarity.
The company’s unique end-to-end distribution solutions encompass e-commerce and omnichannel strategies, catering to global consumer brands in the region. etaily operates on a proprietary operating system designed for end-to-end commerce technology, enabling a seamless customer journey from product development to final delivery through its asset-light warehouse network. The ecosystem covers various aspects, including the creation of lifestyle products, in-house branding capabilities, and efficient delivery to local and regional customers.
etaily has emerged as a significant player in the Southeast Asian e-commerce landscape, serving over 50 global consumer brands and processing more than 10 million orders on platforms such as Lazada, Shopee, and direct-to-consumer brand.com online stores. The company’s gross sales for 2023 have tripled, signaling robust growth, with projections aiming to reach $100 million in the coming years. The portfolio of exclusive brands includes renowned names like Levi’s, Croc’s, Skechers, and Dyson, managing over 200 storefronts.
Friedhoff expressed his vision for etaily, stating, “For the last three years, we’ve focused our passion into crafting something great at etaily – an all-encompassing commerce powerhouse.” He emphasized the company’s unique digital approach that sets it apart, positioning etaily as the architect of digital brands and retail. The platform has played a crucial role in powering leading digital-first brands in the region, such as Crocs, Levi’s, Skechers, Fila, and others, contributing to the digital transformation of consumer behavior.
SKS Capital founder Jack Chen conveyed excitement about participating in the transformative consumer landscape in the Philippines and Southeast Asia. Chen highlighted etaily’s asset-light strategy, deep knowledge of e-commerce, and the application of data-driven insights to understand consumer behavior, emphasizing the significant growth prospects for incorporating advanced omnichannel technology solutions into brand operations. He concluded, “Our brand portfolio is ready to be distributed by etaily.”
In conclusion, etaily’s successful Series A funding marks a pivotal moment in its journey to redefine the e-commerce landscape in Southeast Asia. The company’s commitment to innovation, strategic partnerships, and comprehensive solutions positions it as a key player driving the digital transformation of the region’s retail sector. As Southeast Asia continues to witness a surge in e-commerce adoption, etaily’s expansion plans and investment in technology are expected to contribute significantly to the region’s evolving digital economy.