Shoppable Business was founded to solve one of the biggest concerns people and businesses have when it comes to eCommerce—sourcing authentic branded products. The startup has created an innovative platform and logistics infrastructure that digitizes the procurement process for the first time in the Philippines.
This has long been an issue for companies using Lazada, Alibaba or other platforms to find products as there is little in the way of screening. It is near impossible to confirm authenticity meaning buyers take on the risk when sourcing branded goods.
However, Shoppable Business wants to change that. The eCommerce startup has developed technology that allows businesses or business consumers to secure genuine products for their own use or that can be sold in their stores.
“Our cost-effective eCommerce procurement technology, access to 100 percent authentic branded products and services at wholesale prices with no minimum order quantity, empower entrepreneurs so they can focus on growing their business,” Carlo Silva, Co-Founder and Chief Executive Officer of Shoppable Business, explained.
It is a game-changing concept in the Philippines where sourcing and procurement have traditionally been manual and extremely challenging. By digitizing this, the eCommerce startup believes it can save businesses time while providing them with greater peace of mind.
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Shoppable Business secures pre-seed funding
Founded in 2021, Shoppable Business has expanded quickly in a few short years. Most recently, the startup closed a pre-seed financing round of US$1.15 million that was led by Foxmont Capital Partners and Seedstars International Ventures.
The firm’s founders told TechNode Global that funding will be used to grow Shoppable Business’ business development team. It will also look to develop more products and features while potentially expanding into new markets within the region.
Interesting Analysis
Two really cool things about Shoppable Business must be highlighted. Firstly, it is a 100 percent Filipino-owned and founded company. The Philippines’ startup scene doesn’t have as many success stories as other countries in Southeast Asia, so it is always good to see a company breakthrough.
Secondly, this is actually an excellent idea. It is difficult for businesses to source authentic products and Shoppable Business certainly provides real value. With others in the eCommerce space at best indifferent to counterfeit goods, it is refreshing to see a company take a proactive approach.
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