The Philippines-based social e-commerce startup, Resellee has bagged US$ 1M in a seed funding round held in November 2020, from Mintech Enterprises and Hofan Capital.
Capital raised will be utilized by the startup to grow its operations in the Philippines and expand locally in 2021. Founder and CEO Marc Concio said in a statement that Resellee aims to use the fresh funds to further enhance its product development and innovation with new app features such as group buying, AI and microfinancing, and so on. He also said that the new add-ons will make it easier for its resellers and dealers to earn more income. He concluded by saying that the capital will also augment Resellee’s marketing efforts and supply chain development, particularly in agriculture as it intends to dominate the online agriculture market to help its farmers and resellers as part of its vision.
Co-founded by Marc Concio, Glenn Quiro, Aaron Madolora, Jason dela Rosa and Lorraine Macapagal, the Resellee app enables any Filipino to resell products like fruits, vegetables, essentials, groceries, and gadgets to his/her network of friends on social media by just sharing the products link. Users of the app can also retail prepaid load and offer bills payment for additional income. For those who are more into purchasing than selling, Resellee can also be used to shop and earn instant repayments and discounts from purchases. Earnings and savings can easily be cashed out from the app and to date, it has over 160,000+ registered users.
It envisions providing a sustainable and scalable no-investment online business to millions of Filipinos, who are jobless, underemployed, or in quest of additional income, along with helping merchants, small-medium businesses and farmers sell their products online through thousands of resellers and buyers.
The social e-commerce startup claims it has thousands of products and services on its platform, from fashion and electronics to groceries. It also states its viable advantage lies in the affordability of the products, as likened to usual supermarkets and e-commerce sites.
Resellee said it is able to keep the prices of its products low because of its direct partnership with farmers that enables resellers to acquire them at a fraction of the cost. These savings are then passed on to customers. For the reason that it offers multiple benefits and features, Resellee was selected by the Philippine Department of Social Welfare and Development (DSWD) and its 18 million+ recipients to be the official e-commerce partner under their Sustainable Livelihood Program (SLP).
It also recently announced a collaboration with Mercato Centrale to support and train sellers in Metro Manila in digitizing their offerings to stay relevant in a fast-growing digital economy. It also partnered with Bounce Back PH to hire over 58K dealers to provide them with an extra source of income during the pandemic.
And lastly, it made a deal with One Halal Global Company, a consultancy that provides halal-related business guidance for companies to serve the budding community of halal within the region.
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