E-commerce platform 65daigou rebrands as ezbuy, secures US$20M Series B
Investors are Chinese VC firm Vision Knight Capital, IDG Ventures and US-based CGC Capital
The ezbuy team
Singapore-based e-commerce company 65daigou has raised US$20 million in Series B round of funding led by Chinese VC fund Vision Knight Capital, with participation from existing investors IDG Ventures and US-based CGC Capital.
Along with this deal, the company has also announced its rebranding to ezbuy.
The new funding will be used to complete the rebranding process and continue to expand its market share in Southeast Asia. Apart from these, the capitalisation will also cover technology upgrades.
“The funding will help us reach the next level of growth cycle as we aim to make ezbuy the best global shopping site in Southeast Asia. We will also introduce new source markets to our customers, giving them access to global brands at more cost-effective rates,” said Wendy Liu, Co-founder.
In line with the funding and the rebrand, ezbuy has also introduced its ‘Prime’ service. The membership programme offers exclusive benefits to members, such as access to top US brands sales, as well as lower fees. Members also enjoy a special international shipping rate of S$2.99 (US$2.2) if they order from more than 1 million products listed in the “Prime 2.99″ channel, regardless of weight, size and quantity.
The roll out of the membership scheme is expected to attract more shoppers keen on using the popular platform for buying online.
“We want to be the top-of-mind shopping platform for consumers as we work to bring the benefits of using ezbuy to consumers across the region,” Liu added.
Established in 2010, ezbuy provides customers with a hassle-free and worry-free international shopping experience from buying to delivery. It has presence in Singapore, Australia, Malaysia, Thailand and Indonesia.
The company claims that it has to date delivered over 5 million packages to customers in Southeast Asia and scaled operations to eight offices in the region.
Vision Knight Capital is a PE fund focusing on investments in Internet, e-commerce, consumer retail, and B2B services.
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