By Shiela Bertillo
Philippine-based ecommerce-enabling startup Etaily has raised US$1.6 million in seed funding, the company’s co-founder and CEO Alexander Friedhoff revealed at a conference. The investments are from leading local businesses such as the Ayala Ventures, Foxmont Capital Partners, Magsaysay Shipping & Logistics, and were joined by Boston Consulting Group’s managing director Anthony Oundjian and other renowned angel investors. The funding is expected to spur the growth and development of Philippine e-commerce.
Etaily, founded in 2020, builds, manages, and grows ecommerce platforms for retailers. They provide brands with end-to-end omni-channel solutions while integrating their offline and online retail processes and services. This unique approach provided traditional retail companies a lifeline into the digital world and continues to connect to their consumers. Its current clients include department store operator Landmark and several fashion and lifestyle names.
In the recent webinar, “Breaking the e-Retail Ceiling in ASEAN,” Etaily said it aims to thrive in the ecommerce space by making the digital shift easier for local retailers.
“We are giving traditional retailers the digital fighting chance to compete for the local as well as regional market. We are connecting online brands and retailers to ASEAN consumers by integrating their business offline and online. The most important thing there is one winner, the final consumer. And we are happy to give them a fighting chance and to support end-to-end throughout their journey.” Alexander Friedhoff, CEO of Etaily, stated.
The CCO of Etaily Toti Wong explained how their platform and processes make e-commerce user-friendly even for newbie companies. He said, “I think most Filipino retailers are quickly learning that e-commerce is becoming more complex. The marketplaces in 2017 were totally different than the ones today. In the coming months and years, this will not get any simpler. As an e-commerce enabler, Etaily’s role is to navigate these complexities for sellers and for brands so they don’t have to learn all these things themselves. They can then focus on their core business of brand management, distribution, and retailing.”
Likewise, Tatiana Cziormer, COO of Etaily, said brands can also utilize their data to gain a more thorough understanding of their customers, strengthen their client relationship management, and increase their platforms’ buying power. She stressed that today’s tech can make the transition of brands to digital seamless, effective, and yet user-friendly.
“As e-commerce grows in SEA and the Philippines, we know it will become more complex. The SME’s will have to be on different stages and we have to provide solutions for them. We need to innovate and create new technology for them. At the end of the day, we hope Filipino brands and retailers will become competitive especially in the global market. We want to bring down the geographical and commercial barriers, so that we can introduce to the global market brands that Filipinos love.” COO Cziormer added.
Franco Varona, Managing Partner of Foxmont Capital Partners, added that Etaily’s new funding can accelerate the growth of e-commerce in the Philippines. He pointed out that the 112 million Filipino users on social media, who are also buying and selling online, can prove to be attractive to foreign investors like Singaporean investors.
“We are seeing actual e-commerce websites that Etaily helps—they started from zero and are now moving Php20 million of goods per month. There is really a large quick growth in the Philippine market. If Singaporean investors are noticing that, we will then be on the same path as Indonesia 10 years ago—we will catch up at a fast pace. We are basically as connected as Indonesia and waiting for outside investors to realize the outside potential of this market.” Varona stated.
Friedhoff reiterated that the future of the Philippine’s e-commerce is “where the Filipino wins. Etaily stands for Filipino brands. We integrate both offline and online channels as the digital tools that serve them the best. That is why we focus on the entire retail journey.”
This article is published on BitPinas: Etaily, PH Ecommerce Enabler, Secures $1.6M Seed Funding