In addition to Ayala Ventures and Foxmont Capital Partners, Magsaysay Shipping & Logistics and the Boston Consulting Group, Etaily has secured seed funding of US$1.6 million. As a result of the funding, Philippine e-commerce is projected to expand and flourish, while preventing the outbreak of a “retailing apocalypse” akin to what has been happening in the United States and Europe.
An e-commerce enabler that provides brands with end-to-end omni-channel solutions that integrate their offline and online retail processes and services, Etaily, recently conducted the webinar “Breaking The e-Retail Ceiling In ASEAN”. This novel method will keep traditional retail enterprises alive in the digital era and connect them to their customers. Since its launch in 2010, Etaily has produced over a million transactions and made over 50,000 unique products available across the country and abroad. It currently manages over 20 brands across all online platforms, has enabled over 10 offline businesses to sell online, and expects to generate $10 million in revenue by 2021.
It was launched in March 2020 during the pandemic, capitalizing on the rapid shift of consumers to digital marketplaces and online buying. It has helped traditional retailers navigate the ever-changing and overwhelming markets of e-commerce. Businesses and startups may scale their brands with its front-end-to-back-end multi-channel solutions and seamless interfaces with SEA’s main online channels.
Amor Maclang, Convenor of Digital Pilipinas, pointed to the advantages that an established e-commerce ecosystem can give Philippine companies: “More than just e-retail and e-commerce, the Philippines is leading on many frontiers when it comes to technology. We are one of the pioneers in fintech and payment in the world, and all eyes are on us. We want to continue to champion those even in the nascent asset classes like crypto and tokenization. Our journey in e-retail, eMSME’s, and e-commerce is not going to be far behind. We really thank platforms like Etaily who have taken the heavy lifting out of the way and are creating ecosystems that will allow the retailers in the Philippines a true fighting chance.”
