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Giosis bags US$82.1m in Series A funding

SINGAPORE-BASED Giosis - the parent company of e-commerce platform Qoo10 - has bagged US$82.1 million in a Series A funding round led by Singapore Press Holdings (SPH), with participation from eBay, Saban Capital Group, UVM 2 Venture Investments LP, Brookside Capital and Oak Investment Partners.

Qoo10 operates six e-commerce marketplaces across Asia - in Singapore, Japan, Indonesia, Malaysia, Hong Kong and China - and has amassed some 17.6 million registered users since its launch in 2010. Last year, it recorded US$408 million in gross merchandise volume (GMV), said SPH.

Of the six markets in which the company operates, Qoo10 Singapore is the best performer with 1.8 million registered users as at June 2015 and US$182 million in GMV in 2014, SPH added.

Through this Series A investment, Giosis will grow the Qoo10 team and technology, and accelerate its expansion in Malaysia, Hong Kong and China.

As the lead investor in this Series A round, SPH will partner Qoo10 to explore strategic collaborations on the e-commerce platform across content, marketplaces, retail, advertising and classifieds opportunities.