Anchanto raises US$12M from MDI Ventures, European shipping firm Asendia; achieves profitability
Anchanto, a Singapore-based B2B software provider that enables enterprises to manage end-to-end e-commerce operations, has secured S$16.6 million (US$12.1 million) in its Series C investment round.
Investors in the round are Asendia AG (a European cross-border e-commerce shipping and mail services company) and existing investor MDI Ventures (the corporate VC arm of Telkom Indonesia).
Anchanto said in a media release that it will use the funds to strengthen its R&D portfolio to launch two new products, build data platform and expand to three new markets. It will also invest in hiring.
Additionally, Anchanto also announced that it has achieved profitability.
“Achieving profitability in these times is an excellent performance, and I feel this is a more significant achievement than raising US$12 million in the middle of the COVID-19 crisis. We are a capital-efficient company. Hundred per cent our revenue comes from a SaaS subscription with a high gross margin; we do not buy inventory or run services shops or warehouses,” said Vaibhav Dabhade, CEO and Founder of Anchanto.
“It took strong resilience, deep understanding of product design, engineering, marketing, sales, account management, and solid teamwork across seven countries to reach here,” he added.
Incorporated in 2011, Anchanto is a SaaS firm that helps brands, e-distributors, e-commerce enablers, retailers, third-party logistics providers, SMEs, warehouses and postal associations streamline and manage end-to-end e-commerce operations.
Its offerings include SelluSeller (online multi-channel e-commerce management software as well as a mobile app) and Wareo (full-suite warehouse management system that helps businesses manage B2B and B2C operations through a single system).
As of last year, Anchanto served more than 12,000 business and sellers consisting of over 300 global enterprises.
The company further said its customers manage over 67 million-plus stock keeping units (SKUs) and 115 million-plus listings, and have processed a combined Gross Merchandise Value (GMV) of nearly US$2.71 billion via their platforms. Sellers process over four million orders per week on its systems.
The company also recently expanded into South Korea, Australia and New Zealand. It will now be looking to explore other markets within the greater Asia Pacific region and Europe in the future.
Ascendia — a joint venture between the French National Post La Poste and state-run Swiss Post — is the fourth customer to turn into Anchanto’s shareholder after MDI, Transcosmos Japan and Luxasia.
“Asendia Singapore cross-border e-commerce operations have been running on Anchanto Wareo and SelluSeller platform for over two years now. Asendia wholly owns wnDirect, which happens to be our customer for over six years. We see investment from Asendia as our gateway to European markets. Over 70 per cent of investment in Anchanto has been from our customers, which is a great testimony of how powerful and stable our platforms are and the trust global companies have in us,” Dabhade added.
As part of the investment, Marc Pontet, CEO of Asendia, and Donald Wihardja, CEO of MDI Ventures, will be joining Anchanto’s board.