<article>Singapore-based peer-to-peer (P2P) marketplace for overseas products, <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/airfrov/" target="_blank" rel="nofollow">Airfrov</a>, has secured seed funding from <a style="color: #000080;" href="http://dealstreetasia.com/tag/east-ventures" target="_blank" rel="nofollow">East Ventures</a>.</article>

Singapore-based peer-to-peer (P2P) marketplace for overseas products, <a style="color: #000080;" href="http://www.dealstreetasia.com/tag/airfrov/" target="_blank" rel="nofollow">Airfrov</a>, has secured seed funding from <a style="color: #000080;" href="http://dealstreetasia.com/tag/east-ventures" target="_blank" rel="nofollow">East Ventures</a>.
According to the firm, it will invest the funds in product development, talent acquisitions and regional expansion. Financial terms of the deal are undisclosed.
The startup will use the funding to keep improving its product and explore regional expansion possibilities.
<a style="color: #000080;" href="https://sg.linkedin.com/in/gcaili" target="_blank">Cai Li</a>, co-founder and CEO of Airfrov, explained: “We are definitely looking at expanding regionally, likely in the neighboring countries as we already receive a substantial demand from our existing users.”
He added,“When requests are put up on Airfrov’s most traveled countries, the requester can expect offers from travelers within minutes. With a median delivery time of less than seven days, shoppers can receive their overseas items faster, and sometimes much cheaper, than standard international deliveries.”
The expected expansion of the team will include country managers with an understanding of the commercial environment of local markets, as well as technical talent. Airfrov differentiates itself from seller-listed e-commerce marketplaces, with users posting request for products from overseas that are not accessible in their local marketplaces or via traditional e-commerce channels.
The venture generates revenue from a 7 per cent commission and service free charged to users who list a desired item on a marketplace, state the amount they&#8217;re willing to pay. This request is then taken up by a traveller who will serve as a courier. Airfrov holds the payment in escrow until receipt of the item, upon which it releases the payment to the courier.
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Li elaborated: “Airfrov has evolved into a discovery platform for shoppers and travelers alike. A user on Airfrov spends an average of 12 minutes per session to discover the latest products or bargains from all over the world.”
Having commenced operations in March 2015, Airfrov maintains no inventory and is unique in accessing the extra and often under-utilised capacity of frequent travellers to deliver overseas products.
In an <a style="color: #000080;" href="https://www.techinasia.com/airfrov-seed-funding" target="_blank">interaction</a> with Tech in Asia, Li shared:  &#8220;We have validated the market and have proven our ability to scale with a small budget. We are now ready to expand and scale regionally. This funding is basically a booster to our growth.”
According to Li, Airfrov has enjoyed healthy month-on-month growth, with a doubling of its user base and revenue every three to four months since its launch.
Commenting on the investment, <a style="color: #000080;" href="http://dealstreetasia.com/tag/wilson-cuaca" target="_blank">Wilson Cuaca</a>, the managing partner of East Ventures, stated: “It’s common for us to ask friends who are travelling to buy things from overseas. Airfrov formalises this existing habit into the new sharing economy by utilising the unused luggage space of travellers.&#8221;
Coach added, &#8220;This unique capability to obtain items from overseas, in a way that existing logistics providers are unable to fulfil, will complement the facilitation of e-commerce activity across borders. Airfrov will leverage on the upcoming regional travel trend that is expected to increase significantly within Southeast Asian and North Asian regions in the near future.”
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Singapore-based Airfrov, has secured seed funding from East Ventures, which it will invest in product development, talent acquisitions and expansion.

Singapore: Airfrov secures seed funding from East Ventures

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Singapore: Airfrov secures seed funding from East Ventures

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