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Digibank contender MatchMove takes stake in e-commerce enabler Shopmatic

Claudia Chong

Claudia Chong

Published Mon, Mar 30, 2020 · 09:50 PM

Singapore

DIGITAL bank licence-contender MatchMove is taking a strategic stake in Shopmatic, a Singapore-based start-up that offers a suite of solutions for companies to start and manage their e-commerce businesses.

MatchMove's founder and group chief executive Shailesh Naik declined to reveal the size of the stake in Shopmatic, but told The Business Times that the deal is worth a few million dollars and will be fully financed through cash.

The investment is part of Shopmatic's ongoing Series B round, which is targeting to raise S$15 million to S$…

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