Brief: Filipino ecommerce site Poundit raises six-figure funding

Discussion in 'News Section' started by TechInAsia, Sep 14, 2017.

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  1. TechInAsia

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    Philippines-based Poundit is an ecommerce startup for electronics, gadgets, and accessories. It recently changed its name from YouPoundIt to Poundit.

    Competitors: Widgetcity, Kimstore, Lazada

    How it compares to competitors: The startup claims to have built partnerships with global tech brands, which enables it to feature a curated selection of authentic and authorized products at competitive prices.

    Traction


    Poundit reports a fast-growing customer base, with a triple digit growth and a seven-figure revenue since its inception in 2014. but didn’t share hard numbers.

    Funding details


    Amount raised: US$127,628
    Funding stage: Seed funding
    Lead investor: Cocoon Capital
    Investment type: Equity
    Purpose: Team development, business expansion, and customer experience programs
    Total disclosed funding to date: N/A

    Converted from Singapore dollar. Rate: US$1 = SGD 1,35.

    This post Brief: Filipino ecommerce site Poundit raises six-figure funding appeared first on Tech in Asia.

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