E-commerce aggregator iPrice gets US$1.5m from Woowa Brothers

E-COMMERCE aggregator iPrice Group has raised US$1.5 million from South Korean food-delivery app operator Woowa Brothers as it works towards a Series C round.

Woowa's senior investment associate Joshua Dhong said: "As South-east Asia's e-commerce market develops, the competition among e-commerce platforms is intensifying, and the number of sellers is increasing. We believe that iPrice's role of helping users find the right platform and save money will continue to be vital to the region."

Kuala Lumpur-based iPrice allows users to access six billion offers from over two million sellers via its platform.

The startup has partnerships with Indonesian consumer finance company Home Credit, artificial intelligence company ViSenze and Malaysian e-wallet Boost.

It will use the additional funding to refine its product and roll out more partnerships.

In March last year, iPrice raised US$10 million in Series B funds led by ACA Investments, an affiliate of Japanese investment bank Daiwa Securities Group.