Shopify, a Canada based ecommerce platform, helping individuals in taking their first step online, has recently launched its operations in Southeast Asia as reported by e27. Backed by the Singapore telecom giant Singtel, Shopify has launched its ecommerce solutions in Singapore, Malaysia, Indonesia and India.
As a part of the deal, Singtel will enable transactions in local currencies by September 30 in each country along with a local hotline technical support 24/7. Also, it will help merchants to enjoy attractive shopping rates. Singtel will also be providing the merchants with optional services such as search engine marketing, social network integration, inventory management and email marketing capabilities.
Shopify is an ecommerce SaaS platform which helps retailers to build an online store in a simple and affordable manner.
Shopify had already made its entry in India sometime back and has been live with ecommerce stores such as Poster Gully, Parisera, We the PPL, Yellow Fashion, No Nasties, and The Beach Company as per the recent reports.
Founded in 2006, Shopify has received $7 million in Series A (2010) and $15 million in Series B(2011) funding from Bessemer Venture Partners, FirstMark Capital, Felicis Ventures, and Georgian Partners. It has +50,000 active stores worldwide and an association with +10,000 online retailers such as CrossFit, Tesla Motors, Encyclopaedia Britannica, Foo Fighters, GitHub,etc.
Also, it is having its own fund to provide advances in a range of $2,000 – $10,000 on future sales in the App Store, to the developers, designers and entrepreneurs who want to build apps and other useful applications that enrich the Shopify platform. Shopify has also recently acquired Select Start Studios Inc. to accelerate mobile commerce growth strategy.
With Indian ecommerce scenario leaping forward at a very fast pace, Shopify may see competition from other similar platforms in India such as Zepo.in, iQeCommerce, Buildabazaar by Infibeam, Martjack etc.