Zaapi, a mobile app that enables small businesses to launch an e-commerce presence, has raised $4m in seed funding.
According to a report by Crowdfund Insider, GFC, Flourish Ventures, and Partech, led the investment. Other institutional investors in the round included 1982 Ventures, Kaya Founders, Iterative, XA Network, and Sketchnote Partners/Invertidos.
Zaapi, which was launched in 2021, provides small to medium-sized enterprises (MSMEs) with an interface that lets business owners quickly create an online store from their mobile devices.
The company said the e-commerce use case will remain its core focus but in future it plans to move to digitise other core functions of MSMEs.
Wilfried Buiron, founder of Zaapi, said, “Zaapi is being built at an inflection point in the adoption of e-commerce by Southeast Asian MSMEs, which is driven by two macro trends: Southeast Asia’s skyrocketing mobile internet penetration, and the digital disruption to traditional business brought about by the pandemic.”
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