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Cambodia's Groupin gets $5 mn for expansion plans

26
Mar '19
Cambodia
Cambodia-based private equity firm Belt Road Capital Management (BRCM) has invested $5 million in Groupin, which has stakes in Little Fashion, a leading e-commerce player in the country, and Mediaload, a digital media firm that also operates in Myanmar. The funds will fuel the company’s expansion in the local and regional markets, said Groupin CEO Vichet In.

Despite Groupin start-ups being profitable, it needed this funding to lay early foundation for its transformation into a regional internet company, said In.

The company will invest in mobile technology, logistics chain, product vertical expansion, and customer support to turn L192, an e-commerce platform operated by Little Fashion, into the region’s most customer-centric marketplace platform, a Cambodian newspaper report quoted him as saying.

Mediaload needs to evolve into a content aggregator app, said In.

Little Fashion primarily operates in the low-cost online fashion industry, taking advantage of rising internet penetration, increasingly active online customers and a growing middle-income population in Cambodia, said Alex Odom, chief investment officer at BRCM.

Little Fashion was launched as an informal Facebook retailer in late 2010 and has grown to become a leading e-commerce player in Cambodia with a focus on omni-channel customer experience.

The company sells clothes, accessories, and lifestyle products via its online platform, social media pages and retail stores. (DS)

Fibre2Fashion News Desk – India


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