AllSome Fulfillment, a startup focused on cross-border e-commerce fulfilment, announced on Thursday that it has secured $1.94 million in seed funding led by East Ventures.
AllSome provides services including sourcing from international suppliers, offshore quality assurance, secured storage, pick & pack, door-to-door delivery and parcel tracking. It also helps end-users track their deliveries from multiple websites in one place.
The fresh funding will support the company’s expansion to other countries across Southeast Asia, including Indonesia, according to a statement.
According to data by global consulting firm Accenture, cross-border B2C e-commerce market in the Asia Pacific has the potential to reach more than $476 million by 2020, covering 31 per cent of the total B2C e-commerce market.
AllSome Fulfillment, which was established in 2018 by Malaysian Ng Yi Ying and Chinese national Liu Yi Shu, started out as an online seller.
“As a former online seller ourselves, we understand how fulfillment services are always expensive. AllSome Fulfillment is built essentially to make it affordable for every seller to use e-commerce fulfillment everywhere they need. AllSome Fulfillment has made significant efforts in building up a wide fulfillment network to service online sellers throughout their supply chain,” AllSome Fulfillment co-founder and CTO Ng Yi Ying said in a statement.
AllSome said it expects to reduce cross-border fulfilment and logistics cost by at least 40 per cent in an effort to help online sellers book more profit.
The startup has established a network of 250 virtual warehouses in China and Malaysia, serving 50 clients across Southeast Asia. The company handles 120,000 parcels deliveries on a daily basis.
East Ventures is one of the most active VCs in Indonesia, with portfolio companies such as Ruangguru, Fore Coffee, Warung Pintar, IDN Media, Shopback, and many more.