Anchanto receives S$16.6m fund for market expansion, product development

By ANIS FARHANAH MALEK
[email protected]

KUALA LUMPUR 14 August - As the first half of 2020 saw the e-commerce and retail landscapes changing profoundly due to the global crisis, a Singapore-based software-as-a-service (SaaS) company specialising in e-commerce technology, Anchanto managed to keep scaling and turned profitable. 

Anchanto also announced today that it received new funding as part of its ongoing Series C funding round, totaling S$16.6 million raised till date. 

Anchanto will use the funds to strengthen its research and development portfolio to launch two new products, build-data platform and expand to three more markets.

Chief Executive Officer and Founder of Anchanto, Vaibhav Dabhade said, it took strong resilience, deep understanding of product design, engineering, marketing, sales, account management, and solid teamwork across seven countries to reach it. 

“Achieving profitability in these times is an excellent performance; I feel this is a more significant achievement than raising US$ 12 million in the middle of the COVID-19 crisis.

“We are a capital-efficient company. 100% of our revenue comes from a SaaS subscription with a high gross margin; we do not buy inventory or run services shops or warehouses," said him in a statement today.

The company will also invest in hiring skilled talents to enhance and accelerate the launch of its new products into markets especially with the demand for SaaS solutions on the rise.

Taking part in the funding round were a joint venture of the French National Post La Poste and State-run Swiss Post, Asendia; and the corporate venture arm of Indonesian telco firm Telkom Indonesia, MDI Ventures. 

This round also marks the start of Anchanto’s partnership with Asendia AG, an European cross-border e-commerce shipping and mail services giant, as a new shareholder.

As of last year, Anchanto’s platforms have helped streamline the e-commerce operations of more than 12,000 businesses and sellers consisting of over 300 global enterprises. 

Anchanto’s customers manage over 67 million stock keeping units (SKUs) and 115 million listings, and have processed a combined Gross Merchandise Value (GMV) of nearly US$2.71 billion via their platforms. 

Sellers process over 4 million orders per week on Anchanto’s systems, averaging at 1.6 orders processed every second.

Anchanto’s highly stable platforms have been built to handle massive volumes for enterprise customers and hence played key roles in defining the company’s success. - DagangNews.com