EZBuy closes $20m Series B round led by Shanghai PE Vision Knight Capital

Visual of EZBuy homepage. March 2016.

Singapore-based e-commerce portal EZBuy, which formerly operated under the trade name of 65Daigou, has closed a $20-million Series B investment led by Shanghai-based private equity fund Vision Knight Capital.

Existing investors IDG Ventures and China Growth Capital too participated in the round.

EZBuy, which was set up in 2010, allows users to shop for items available in overseas online stores, which tend to be cheaper and can be easier to find than in domestic stores.

Its platform sources products from China, the US, and Taiwan. By functioning as the intermediary between overseas e-commerce retailers and consumers, EZBuy handles the purchase and logistics of transporting the goods to Singapore.

Co-founder Wendy Liu said, “The funding will help us reach the next level of growth cycle as we aim to make EZbuy the best global shopping site in Southeast Asia. We will also introduce new source markets to our customers, giving them access to global brands at more cost-effective rates.”

According to the firm, it will be using the latest infusion of capital for rebranding, as well as expanding its business operations in Southeast Asia and improvements to its web portal. Currently, EZBuy has a presence in Singapore, Australia, Indonesia, and Thailand.

EZBuy is also launching a new ‘Prime’ service, resembling Amazon Prime, which offers priority shipping for members. EZBuy’s membership scheme grants benefits likes sales, lower fees and an international shipping rate of $2.20 for all items included in its “Prime 2.99” category, regardless of their size and quantity.

According to EZBuy, it has over a million products under this category in its portfolio. To date, it claims to have delivered in excess of 5 million packages to Southeast Asian customers.

Also Read: India: Zodius Capital raising up to $40m follow-on fund, to invest in niche e-commerce

ABM Investama unit rolls out mega logistics project, targeting Indonesia’s e-commerce growth

China’s Baidu in talks to invest in Indian e-commerce start-ups

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.