Armada Brands Raises $1.3 Million Pre-Seed to Empower E-Commerce Entrepreneurs in Scaling Their Brands
Armada Brands, a Philippine e-commerce aggregator, raises $1.3M in pre-seed funding to invest in e-commerce entrepreneurs looking to scale their brands.
Since the start of the Covid-19 pandemic, there has been an emergence of 70 million new online shoppers in Southeast Asia, according to a report from Facebook and Bain & Company. The report predicts that by 2026, there will be a whopping 380 million shoppers across the entire region. This presents a significant opportunity for entrepreneurial Southeast Asians with exciting products to sell.
However, not all eCommerce brands are equipped with the know-how and bandwidth to capitalize on this momentum and ride the tidal wave of new consumers. Be it running out of stock, having to hold back on their advertising spend and product expansion plans, or being overwhelmed by nonstop requests from customers, entrepreneurs are often unable to unlock the full potential of their brand. They lack capital, operational capacity, and scaling capability.
Photo courtesy of ILO Asia-Pacific.
Source: Grit Daily (link opens in a new window)
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