Singapore – SaaS omnichannel social commerce platform SleekFlow has completed a US$8m Series A funding round, led by New York-based investment firm Tiger Global Partners, with notable investors like Transcend Capital and AEF Greater Bay Area Fund, managed by Gobi Partners GBA – the GP of Alibaba Hong Kong Entrepreneurs Fund (AHKEF).
The newly secured funds will be channelled to facilitating SleekFlow’s strategic market penetration into SEA, specifically Singapore and Malaysia, and as part of its expansion plans into the UK, Europe, and other emerging markets.
Moreover, the funds will be used to scale the platform’s capabilities with fintech and data analytics functions, one-click checkouts via popular social media platforms, centralised product listings, and easy in-chat payment integrations to enhance seamless workflow for O2O and e-commerce brands.
Henson Tsai, founder and CEO of SleekFlow, shared that the social commerce market is expected to rise to US$3.37t by 2028, and SleekFlow aims to drive this e-commerce revolution by being the top social commerce unified hub – merging conversations, product catalogues, payment solutions, and order management into one for businesses.
“With investor trust from Tiger Global Partners, Transcend Capital, and AEF Greater Bay Area Fund, SleekFlow will enhance product developments to include detailed buyer journey tracking and analytics, which will provide invaluable actionable insights for enterprises to unlock their social commerce power as they embrace this unstoppable megatrend,” said Tsai.
Meanwhile, Chibo Tang, managing partner of Gobi Partners GBA, said, “Eight in 10 US businesses anticipate increased sales via social media within the next three years. SleekFlow’s innovative solutions will help these global commerce businesses meet the evolving needs of customers who are turning to social channels to purchase more than ever before.”
Just recently, SleekFlow has also launched its new one-click checkout function and social-to-payment ecosystem, which provides a comprehensive solution for both e-commerce and brick-and-mortar businesses to receive payments directly via social chats. The newly advanced chat-and-pay feature effectively connects businesses and consumers with a faster, easier, and more well-secured path to purchase, unlocking a new avenue for business profits and revenue.