Singapore-headquartered Intrepid, which helps brands accelerate their omni-channel e-commerce, announced on Thursday that it has raised a Series B round of $11 million.
The oversubscribed financing round was led by Mirabaud Asset Management through the Mirabaud Lifestyle Impact & Innovation fund (MLII). Mirabaud Asset Management is an investment arm of Swiss-based wealth and asset management firm Mirabaud Group.
Also participating in the round were Singapore-based venture capital fund Vulpes Investment Management, a group of global private investors, and existing investors including Thakral, a Singapore-listed real estate investment firm.
“In less than two years, Intrepid has become the partner of choice for over 60 international brands to grow their omni-channel ecommerce in Southeast Asia. We have built a 250+ strong team of ecommerce industry specialists, with advanced capabilities in e-commerce, marketing, and technology. This round of funding will help us further invest in our technology suite and take our capabilities to the next level in order to continue to accelerate the growth of our brand clients’ business across the region.”, Intrepid CEO Jasper Knoben said.
With its asset-light model, the company already reached profitability in two of its markets, and is on track for regional profitability, Intrepid said.
In August last year the company had raised an undisclosed sum in a pre-Series B financing, co-led by Thakral and existing investor Sun SEA Capital, a VC firm backed by the Malaysian conglomerate Sunway Group. The round also came less than 10 months after the company received Series A funding led by Kairous Capital.
Intrepid Group is one of the fastest-growing e-commerce service providers for brands across Southeast Asia, offering end-to-end omni-channel e-commerce management, as well as e-commerce marketing and technology services. Headquartered in Singapore, it also has operations in Indonesia, Malaysia, the Philippines, Thailand, Vietnam, and Hong Kong.
Mirabaud Group is an international banking and financial group based in Geneva with 32.7 billion swiss franc ($36.49 billion) in assets under management.
MLII, created in 2020, is a specialised capital development fund that looks to invest globally to support the development of upcoming brands and to accompany the development of B2B players in the fashion, lifestyle, and technology ecosystem.