ShopYourWorld.com, a Singapore registered ecommerce portal headquartered in Mumbai, recently raised an undisclosed amount in Series A, reports VCCircle. The investment was led by the Singapore government (National Research Foundation), iGlobe Partners and WaveMaker Labs.
The other terms and details of the deal remain undisclosed. We have written them to know more about the funding, though reply is awaited.
ShopYourWorld, founded in 2010, is an online Global Shopping Portal, with a focus on bringing the global brands and merchants to the Indian consumers. It fulfills the gadget and other requirements of consumers who want to buy branded products that are available only in US. With subsidiaries in US, UK and India, it currently offers a wide range of products across segments such as Electronics, Homes and Appliances, Mobiles, Apparels, Books, Grocery, Kids and many more.
In case a product is not available on the company’s website, one can call up the customer service, give them the web link of the product and as claimed by the company, it will be delivered within 15 days to the customer’s doorsteps. The feature is although not new, as many other portals are offering the feature of ‘Wishlist’, wherein the users can add the required products and company notifies the customer when the product is available.
It accepts all major debit and credit cards for payments along with the secure IVR facility to put order on phone. Additionally, ShopYourWorld is one of the first to offer a cash voucher system, enabling a user to pay for any item in cash.
As per the website, the shipping time varies per product and is usually within 15 days of placing the order. Also, it offers a 30 day replacement guarantee along with refunds within 7-10 business days post cancellation of the order.
However, few of its shoppers were found outrageous due to the loopholes in the portal’s services and its illogical prices. Also, a few months back, the site was rumoured to get shut down. The following tweets by different consumers reveal the whole story.
The sudden infusement of funds have definitely come as a surprise to most of its consumers. It would be really great to see whether this funding can bring the consumer’s trust back on ShopYourWorld.com and bring it in competition with the recently launched Amazon marketplace in India.
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Category Ecommerce Investments News Startups