Singapore e-commerce startup Shopmatic expands to Mid-East

Singapore

SHOPMATIC, a Singapore-based startup that provides e-commerce solutions to small businesses, said on Tuesday it has expanded into the Middle East - having set up shop in Singapore, India and Hong Kong,

Shopmatic is working with Network International - an e-payments solutions provider in the Middle East and Africa - to launch Go-online, a platform that enables small and medium startups and businesses in the United Arab Emirates to create Web stores and sell to customers across the country and beyond.

A partnership approach is key to doing business in emerging markets, according to Shopmatic co-founder and chief Anurag Avula.

In an exclusive interview with The Business Times, Mr Avula said that partnerships with key local companies are what will allow the startup to take its e-commerce solutions to new customers "efficiently and quickly".

"Network International's payment gateway, Network Online, is the Middle East and Africa's most innovative gateway, and has a presence across 55 countries that will enable us to enter new markets quickly."

Founded in 2014, Shopmatic has created a platform that allows anyone - be it a small business or an individual entrepreneur - to sell online, is localised for each market, and includes features such as built-in analytics, inventory management tools, and payment and shipping options.

Mr Avula told BT: "Shopmatic has always wanted to help anyone go online to sell their products and services. As part of our strategy, we have selectively chosen to partner key companies who are as passionate to enable e-commerce for their customer base as we are."

In India, Shopmatic inked a strategic partnership with private sector bank HDFC to help its SMB (small and medium business) customers sell online. In Singapore, Shopmatic formed a white-label partnership with Singtel - one of the largest telecommunications providers in South-east Asia - to launch Shoptiq, a platform that helps the region's small businesses sell online.

Shopmatic targets to enter 20 markets by 2020, starting with Indonesia, Malaysia and the Philippines this year.

Mr Avula said: "We will continue to drive growth in new countries through partnerships. The idea is to continue to expand through quick and measured steps, into several developing countries across the world."

Asked how Shopmatic's platform benefits emerging countries in particular, he said that it is an easy-to-use, do-it-yourself platform that includes the significant elements of the e-commerce ecosystem to help merchants succeed in selling online.

He added: "Shopmatic removes the dependency on technology for the user, localises for the markets it operates in, and provides dedicated e-commerce consultants to help our customers."

Even in Singapore, where digital savviness is higher than in some emerging countries, Mr Avula believes that Shopmatic can be relevant because of a "digitally hungry small and medium enterprise (SME) base with a demonstrated desire to grow their businesses".

He said: "There are a multitude of individual entrepreneurs and small and medium businesses wanting to sell online, but not knowing how to go about it in the easiest, quickest and most reasonable of ways."

That's where Shopmatic comes in, said Mr Avula. "We not only train merchants on how to leverage our platform but also guide them on techniques to sell better online, such as through social media platforms. We also conduct workshops and bring in experts to speak on topics including marketplace integration, the importance of e-commerce and localisation of products."

Last year, Shopmatic raised pre-series A funding of US$5.7 million led by Singapore-based venture capital firm ACP and Spring Singapore (now Enterprise SG).