Hong Kong-dependent SaaS startup SleekFlow has elevated $8 million in Sequence A funding led by U.S. billionaire Chase Coleman’s financial commitment firm Tiger World wide, one of the world’s most active startup investors.
Other traders in the spherical provided current investor Alibaba Hong Kong Business people Fund’s AEF Increased Bay Location Fund and Hong Kong-centered Transcend Capital. The funds will be utilized to gas SleekFlow’s world wide enlargement ideas, particularly Southeast Asian markets like Singapore and Malaysia, continental Europe and the U.K. Some of the new cash will also be used for products improvement in fintech and analytics.
“Despite the economic downturn, the social commerce market is heading much better than at any time, reaching $474 billion in 2021,” Chibo Tang, taking care of spouse of Gobi Companions, which manages the Alibaba Entrepreneur Fund, mentioned in a statement. “SleekFlow’s progressive remedies will support these world wide commerce organizations meet up with the evolving needs of clients, who are turning to social channels to obtain extra than ever before.”
Started in 2019, SleekFlow’s program assists businesses integrate and regulate customer inquiries and income potential customers from different social media and messaging applications, this sort of as Fb Messenger, WeChat and WhatsApp, into a one platform. In November, SleekFlow integrated Canadian e-commerce technological innovation organization Shopify into its computer software.
The startup states more than 5,000 organizations have utilised its software program, which includes the Hong Kong billionaire Cheng family’s Chow Tai Fook Jewelry, billionaire Robert Kuok’s Shangri-La luxurious hotel chain and Hong Kong-dependent logistics unicorn Lalamove.
“People nowadays spend much more than 80% of their time on social platforms. It is already a practice for us to uncover merchandise and even invest in on social channels immediately,” Henson Tsai, founder and CEO of SleekFlow, stated in a statement. “The enormous social commerce market prospective is envisioned to rise to $3.37 trillion by 2028, so we are psyched that SleekFlow is section of this e-commerce revolution.”
Prior to founding SleekFlow, Tsai, who gained a bachelor’s diploma in mathematics from Imperial College or university London, was an investment banking analyst at HSBC and a management marketing consultant at EY centered on info analytics.