Cross-border eCommerce enabler Buy&Ship has announced the first closing of its US$12 million (approximately HK$93.6 million) Series C funding round.
The round was led by MLC Ventures (Mitsubishi Logistics Corp. Ventures), DLK Advisory, and MemeStrategy (Stock Code: 2440.HK), with follow-on investments from Cool Japan Fund and Altara Ventures.
Buy&Ship has achieved a 100% year-on-year increase in proxy-shopping revenue, with over 60% YoY revenue growth in Taiwan and more than 100% YoY revenue growth in Singapore. The company has also formed a strategic partnership with Mercari, Japan's largest C2C marketplace.
The funds will be used to accelerate AI technology integration in cross-border e-commerce, pursue global mergers and acquisitions, expand aggressively into the U.S. market, and prepare for a public listing.
"This funding round validates our innovative leadership and injects momentum into global expansion." — Sheldon Li, Co-Founder and CEO of Buy&Ship
Source: HKSTP
