VCs invest $17.6m in Singapore's Ezbuy

Other investors included Vision Knight Capital, CGC Capital, Sky9 Capital, and Ventech. The capital will be used to improve customer services and drive expansion both within Southeast Asia and outside the region.

"The pre-Series C funding cements Ezbuy's position as the leading e-commerce platform in Asia," He Jian, co-founder and CEO of Ezbuy, said in a statement. "Our core mission since the start has always been to provide customers with the convenient access to shop for their favorite products from all over the world. The investment will enable us to continue strengthening our core verticals and pave the way to achieve this objective faster.”

Founded in 2009 as 65daigou, Ezbuy brands itself as the first global shopping platform in Singapore. Operations are modeled on sector leaders such as Taobao and Amazon, and currently extend into Malaysia, Thailand, Indonesia, and Australia. The company claims that its customers are able to purchase clothes, furniture, fast-moving consumer goods, and electronics at one-quarter of the price offered by offline retailers. 

Vision Knight, a firm founded by former Alibaba.com CEO David Wei that closed a $550 million fund in 2014, led a $20 million Series B round in 2016 to drive operational expansions and technology upgrades. That round also included participation from IDG and CGC. Both IDG and CGC backed the company as early as 2014 with a Series A round of undisclosed size. 

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• Topics
• Southeast Asia
• Consumer
• Expansion
• Singapore
• Vision Knight Capital
• Sky9 Capital
• IDG Ventures
• e-commerce
• TMT