Singapore based SaaS (Software as a Service) startup, Anchanto, which is specialized in eCommerce announced on 14th August 2020, that it has raised USD 12.1M in series C funding.
The participants of the funding round include a joint venture between state run Swiss Post and French national post La Poste, Telkon Indonesia’s corporate venture arm MDI Ventures and Asendia. As a part of the deal, Donald Wihardja, CEO of MDI Ventures and Marc Pontet, CEO of Asendia.
The company claims to utilize the fresh funds to build its data platform, in strengthening its Research & Development portfolio in order to launch 2 new products in the market and hiring more team members to accelerate the process of launching it’s new offerings.
About the company
Established in the year 2011, Anchanto offers Wareo which is a warehouse management system that supports business in managing B2B business-to-business and B2C business-to-customers operations and flagship product SelluSeller which is an online multi-channel eCommerce management software.
The company’s customer base include DHL, Nestle, hypermarket Mydin and postal delivery service Pos Malaysia, among others.
Anchanto currently operates in over 14 countries including India, Australia, Malaysia, Singapore, Indonesia, South Korea and Philippines.
The company says that they are also planning to expand further in Asia Pacific as well as enter three more markets, including Europe.
How much traction does it have?
The start-up claims to have gained profitability, with all of its revenue coming from subscriptions.
Vaibhab Dabhade, CEO of Anchanto commented, “We are a capital-efficient company. 100% of our revenue comes from a SaaS subscription with a high gross margin; we do not buy inventory or run services shops or warehouses.”
Previously this year, the start-up said that they have been profitable for one-fourth of 2020, with gross margin of 96 per cent and EBITA (Earning Before Interest, Tax & Amortization) margins of 46 per cent for profitable months.
The company also claims to have helped eCommerce streamline operations of more than 12,000 sellers and businessmen over 300 enterprises.
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