CHENNAI: Global ecommerce enabler Shopmatic has acquired 100% stake in CombineSell, a Software as a Service (SaaS) platform that automates multichannel ecommerce by aggregating popular online marketplaces into just a single platform.
The financial details of the deal remain undisclosed.
Shopmatic said the acquisition is part of its strategy to consolidate its position in the ecommerce enabling tech sector.
Before CombineSell, Singapore-based Shopmatic had acquired a 50.1% stake in retail management and POS solution provider Octopus to unlock omnichannel strategy for its merchants.
CombineSell's technology helps merchants sell on multichannel ecommerce platforms and drive campaigns for business growth. With this acquisition, Shopmatic’s merchants will now be able to sell on multiple channels while managing their online business through a single dashboard.
Based in Singapore, CombineSell has more than 30 ecommerce channel integrations available, including those with Lazada, Shopee, Qoo10, Amazon, eBay, Carousell, Redmart and Xero, from a single and centralised platform. It claims to have generated more than $150 million of Gross Merchandise Value (GMV) in the last 12 months.
“In just a single click, merchants will now have access to selling across numerous channels in various countries across South East Asia. The acquisition of CombineSell further consolidates our position as clear market leaders in digitizing SMBs & Individual Entrepreneurs in APAC," Anurag Avula, co-founder & CEO, Shopmatic, said.
“Following the latest development, we are excited to join forces with Shopmatic and together enable the online success of businesses, in the emerging markets," Loh June Yong, Founder & CEO, CombineSell said.
With over 250,000 merchants on its platform, Shopmatic has helped sellers be successful digitally.
Shopmatic said it clocked 174% QoQ revenue growth and a 160% hike in transactions on its platforms within the April-June quarter.
ERP Gold | Multi Channel Inventory Management Software.
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